Legg Mason cuts fees across UK range ahead of sunset clause deadline

Reductions between 40bps and 50bps

Legg Mason is cutting the annual management charge on the A share class across its UK fund range by up to 50bps.

The move comes before the RDR sunset clause comes into effect in April, requiring all legacy business to move away from rebates. As a result, Legg Mason is cutting the annual management charges (AMC) on its entire UK authorised fund range, Legg Mason Funds ICVC, from 1 April. Advisers take optimistic stance as sunset clause draws near The change will see the AMC on fixed income funds reduced by between 40bps and 45bps on A share classes, and the initial charge on subscriptions will no longer apply. For equity funds, the AMC will be reduced by 50bps for A shares, and the initial c...