IBOSS cuts fees on multi-manager fund range

Increased allocation to passives

IBOSS Asset Management has reduced the ongoing charges figure (OCF) on its risk-rated multi-manager fund range by broadly increasing its allocation to passives.

Launched in February last year and managed by the group's co-founder Chris Metcalfe (pictured), the average passive weighting in each of the four risk-rated funds, which typically consist of between 35 to 40 holdings, has risen from 5% to 30%. As a result, the OCF has fallen from 1.1% to 0.78% on the MGTS IBOSS 1 fund, from 1.22% to 0.8% on the MGTS IBOSS 2 fund, from 1.32% to 0.93% on the MGTS IBOSS 4 fund, and from 1.36% to 0.95% on the MGTS IBOSS 6 fund. Each of the multi-manager funds invests in four core asset classes; equities, fixed interest, property and cash, with the asset a...