JPM offers alternative to index trackers

J.P. Morgan Asset Management has renamed and slashed the charges on its UK Active 350 fund as the group looks to offer investors an active alternative to passive index trackers.

The fund, now named JPM UK Active Index Plus fund, will be benchmarked against the FTSE All Share index. The annual management charge has been cut from 1% to 0.25%, and the group says the TER will not exceed 0.55% as the 10% performance fee will only be triggered in periods of outperformance. Jasper Berens, the group's head of UK retail sales, says the fund is a better alternative to index trackers, as it aims to outperform rather than merely replicate the benchmark. "We know today's investors are increasingly concerned about fund charges and a preferred route to seeking lower cost fu...