Old Mutual cuts charges and renames funds

Old Mutual Global Investors (OMGI) has cut the charge on Christine Johnson's £452m Old Mutual Corporate Bond fund and renamed its UK-domiciled equity range.

The annual management charge on the Corporate Bond fund's A, B and C share classes have been cut, from 1.1% to 1%, 0.75% to 0.65% and 0.6% to 0.5% respectively. In a letter to clients the firm stated the lower charge would provide investors with better value. "[OMGI] continually monitors its fund range to ensure that its products remain attractive relative to their peer groups and have decided to lower the cost to investors of this fund," it said. The fund is a top-quartile performer in the IMA £ Corporate Bond sector, delivering a 30.4% return over three years, ahead of the peer g...