JPM cuts fees on multi-manager range

J.P. Morgan Asset Management (JPMAM) has cut fees on its Fusion fund range, run by Tony Lanning, in a bid to improve the portfolios' competitiveness.

The Fusion range was launched two years ago and consists of five risk-rated fund of funds. It utilises manager selection skills brought across from J.P. Morgan's private banking arm. The funds are managed by Lanning (pictured), who was brought in to launch the Fusion proposition after serving as head of multi-manager at Henderson and Gartmore. Fee cuts effective from 1 April will see AMCs for the five funds fall from 1.5% to 1% for each fund's A share class, while ongoing charges falling from 2.27%-2.41% to between 1.77% and 1.91%. AMCs will fall from 0.75% to 0.5% for the C shar...