AJ Bell fixes AMC on passive multi-asset range at 0.15%

Six funds in range

AJ Bell has cut the ongoing charges figure (OCF) of its Passive Balanced fund by 6% and fixed the annual management charge (AMC) on its passive multi-asset fund range at 0.15%.

The move is part of AJ Bell's commitment to passing on economies of scale to investors.  As the funds increase in size, the fixed costs associated with running the fund decrease proportionately, translating to a lower OCF. AJ Bell has pledged to never receive more than the 0.15% AMC, meaning customers will benefit.  AJ Bell reports 29% pre-tax profit increase as it rules out further acquisitions AJ Bell is also aiming to reduce the cost of underlying investments through "discussions with suppliers", which has so far seen its Passive Balanced fund's OCF fall 6%, from 0.50% to 0.47%....