life office agrees to rebate charges on its offshore and onshore fund of funds range
AIG Life is to offer performance fee rebates on its fund of funds range launched earlier this month, the first UK group to do so. The four funds, Cautious Managed, Balanced Managed, Global Growth and International Aggressive, are available in both offshore and onshore versions via AIG's life and structured products. They will be managed by the group's head of fund research Paul Higginbotham. The performance management fee on each fund is 0.25% if it produces first-quartile performance against its sector average on a 12-month rolling basis. For second-quartile performance, the charge is...
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