Vanguard cuts fees on LifeStrategy funds as price war continues

Vanguard Asset Management is lowering charges on a number of its LifeStrategy funds as the price was in passive investment continues to heat up.

All five ‘all-in-one' portfolios will be available at an annual management charge of 0.29% from 31 January, and the pre-set dilution levies (PDLs) will also be reduced. The AMC on the 100% Equity fund will see the biggest change change, dropping 4bps from 0.33%, while the PDLs on the funds will be reduced by 6bps-9bps. A number of ETF providers, including UBS and iShares, have moved to reducefees on their ETF products last year, as pricing pressures on ETFs have escalated. The entire Vanguard range will also be converted from a NURS to a UCITS structure to simplify access for retai...