Kames cuts fees on Snowden's global corporate bond fund

Kames Capital has cut the annual management charge on Stephen Snowden's (pictured) Investment Grade Global Bond Fund in an effort to align its with European peers.

The AMC on the $142m (£93m) fund will be cut from 80bps to 65bps, with effect from 1 April 2015, following a review of the product. The new OCF is expected to be 75bps. The fund's benchmark will also change from the Lipper Global Bond Global Corporate Median to the Barclays Global Aggregate Corporate index. This will cause an increase in the overall duration of the fund to 6.4 years, from the 5 year average of the Lipper peer group. The changes are intended to bring the fund into line with its peer group, particularly in continental Europe, but will not affect the investment process, ...