Aberdeen Standard Investments is set to reduce the charges on a number of share classes of its 25-strong MyFolio fund range following a review.
New and existing investors will see the annual management charge (AMC) on the £12.5bn range reduced by between 0.150% and 0.325%, depending on the share class, as of 1 November.
Furthermore, the MyFolio Managed and Multi-Manager funds will see a 0.175% reduction if investors purchased them through UK third party platforms.
Iain McLeod (pictured), MyFolio investment specialist at Aberdeen Standard Investments, said: "We regularly review our funds in order to ensure that we are always acting in the best interests of our investors.
"As a result of our latest review, we concluded that an adjustment should be made to the pricing structure of our MyFolio range of funds. This change further enhances our market-leading proposition for investors in the risk-based fund of funds market.
"Through MyFolio, we aim to strike the balance between the risk an investor is willing to take and the potential rewards they receive in return."
Launched in September 2010, the MyFolio funds are a range of 25 risk-based portfolios, investing in both active and passive strategies with five risk levels and five investment styles.
This is the first reduction in fees on the range since Standard Life completed its merger with Aberdeen Asset Management on 11 August.
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