First State cuts AMCs on five funds

First State has lowered the annual management charge on five of its specialist funds from 0.85% to 0.75%.

The biggest fund affected by the change is the £861m First State Global Listed Infrastructure fund, managed by Peter Meany (pictured). The other four funds are the £198m First State Global Property Securities, £478m First State Global Resources, £10m First State Asian Property Securities and £26m First State Global Agribusiness funds. Following a review, the new annual management charge will now be 0.75%, down from 0.85%. The new charges will apply from 1 April, with charges on all other First State funds are unchanged.