M&G cuts fees on multi-asset Episode funds

M&G is to cut the annual management charge (AMC) on two of its Episode multi-asset funds by 5bps next month.

The fund house is to cut the 65bps 'I' share class AMC on its £340m Episode Balanced and £250m Episode Income funds to 60bps as of 3 November. Ongoing charges will also fall as a result: Episode Balanced had an ongoing charges figure (OCF) of 0.93% prior to the AMC cut, while Episode Income had an OCF of 0.86%. At the same time M&G will also change the name of Episode Balanced, managed by Juan Nevado and Tony Finding, to M&G Episode Allocation. The fund has returned 26.8% over the three years to 10 October, according to Morningstar, compared with an IMA Mixed Investment 20-60% Shar...