Invesco Perpetual scraps AMCs as it introduces ongoing charge

Invesco Perpetual has made a major change to its charging structure across its range of funds, scrapping the annual management charge in favour of a single charge which encompasses all costs.

Investment Week can reveal Invesco Perpetual has created a new charge encompassing the management of the fund, administration, and fund governance charges. The move is in line with recent comments from the Investment Management Association (IMA), which has been pushing for a total cost of ownership figure. The group's new Fund Management Fee (FMF) is equivalent to the ongoing charge quoted in the Key Investor Document, and will replace AMCs on Invesco Perpetual's funds from 1 April. The only additional costs - which cannot be added because they are historic - will be trading costs whi...