Woodford Blow, Fund Fee Cuts and GARS

NEWS YOU CAN USE: This month one multi-manager ditches Woodford Equity Income, while another increases his exposure to Standard Life’s mega GARS fund

Emma Simon 26 October, 2017 | 11:08AM
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Woodford Equity Income received a further blow this month, with news that multi-manager range Jupiter Merlin had sold its £300 million stake in the fund.

Good news for investors; consolidation and competition in the industry appears to translating into lower fees with two more fund managers announcing reductions to annual management charges this month.

Elsewhere, Polar Capital became the latest fund manager to launch it’s own AI and robotic-themed fund this month. However, plans to launch the People’s Trust, a low-cost investment trust targeting longer-term returns, were scuppered, with its launch abandoned at the 11th hour, due to insufficient funding.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
ASI Global Absolute Ret Strat I Acc87.65 GBP-0.34Rating
LF Equity Income C Sterling Acc3.45 GBP0.00
Provident Financial PLC324.60 GBP0.00
TB Evenlode Income B Acc358.98 GBP-1.32Rating

About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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