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SLI hikes annual fees on nine funds
by Sarah Miloudi on Jul 07, 2011 at 11:33
SLI plans to contact its investors following a review of its charges, which will see the annual management fee on the £1.1 billion UK Smaller Companies vehicle lifted from 1.50% to 1.60% for retail investors and from 0.75% to 0.80% for its institutional clients.
The asset manager's Global Index-linked Bond , UK Gilt, Corporate Bond, Select Income and Higher Income funds will also have their annual fees raised from 0.95% to 1.00% from the beginning of November.
Retail investors in the £16.8 million SLI Global Equity Unconstrained fund, managed by Mikhail Zverev, will see the annual management charge raised 0.10% to 1.60%, while institutional investors will no longer be able to access the fund at a fee of 0.75%.
Like the other SLI products reviewed, institutional buyers of the fund will from November be asked to pay an increased annual management fee of 0.80%, up from 0.75%.
According to documents seen by Wealth Manager, Jacqueline Kerr (pictured), SLI's head of UK wholesale, believes the increased fee structure will allow SLI to remain competitive with its peers.
'At Standard Life we conduct regular reviews of our products to ensure our fund charges remain competitive with the market. As a result of a recent review, the annual management charge of a number of our funds will be increasing with effect from 1 November 2011. We will be writing to investors in the relevant funds on 11 July 2011 to notify them of the change,' Kerr said.
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