Aberdeen cuts fees on ex-SWIP EM fund

Inherited from SWIP acquisition

Aberdeen Asset Management is to cut the fee on its Worldwide Emerging Markets fund, which it inherited through the acquisition of SWIP.

There is currently an annual charge of 1.7% on the fund and the new, lower figure is due to be revealed "in the next month or two", according to the Financial Times.  Though the move comes hot on the heels of a European investigation which recently found a significant proportion of active funds to be closet trackers, the firm said it was "completely separate" from this issue. Last week, the European Securities and Markets Authority (ESMA) found up to 15% of UCITS equity funds examined could be 'closet' index funds, and has called for further investigation by national regulators. Ab...