AJ Bell slashes fees across entire passive multi-asset range

OCFs of 0.35%

AJ Bell has further cut fees across its six passive multi-asset funds following a number of cost savings it has made as a result of the products growing in size.

The six funds have seen their ongoing charges figures (OCFs) capped at 0.35%, down from the 0.5% OCF established when they launched in May 2017. The funds' annual management charge is fixed at 0.15%, meaning any cost savings are passed back to clients through a lower OCF. Last month, the firm cut fees on three of the range. The Passive Balanced fund, the largest portfolio, saw its OCF slashed to 0.4% from 0.47%, while the Passive Adventurous and Moderately Adventurous funds saw their OCFs drop to 0.44% from 0.5%. Kevin Doran, CIO at AJ Bell, commented: "When we launched our funds a...