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Lyxor reduces fees on flagship managed futures fund

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Lyxor reduces fees on flagship managed futures fund

Lyxor has acted to reduce the costs on its managed futures fund amid a difficult run for such strategies.

The £128 million Lyxor Epsilon Managed Futures fund has cut the management fee on its class A shares from 1.94% to 1.5%, and its performance fee from 20% to 10%. On class B shares, the management fee has dropped from 3.94% to 1% and the performance fee from 20% to 15%.

Managed futures funds have endured a torrid period, with the Newedge CTA index losing 5% over the past three years.

Yet within that environment, Lyxor Epsilon Managed Futures has fared better than most, returning 13.3% through the year to the end of November while the Newedge CTA index rose by just 0.2%.

Lyxor attributed the strong recent performance in particular to its equity and currency positions, including long contracts on US markets and a short bet against the Australian dollar versus the US dollar.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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