OMGI switches pricing model on Cirilium multi-asset range

Effective as of 1 June

Old Mutual Global Investors(OMGI) has introduced a fixed ongoing charge (FOC) on the Cirilium active and passive multi-asset portfolios.

Effective as of 1 June, OMGI said the FOC will provide "greater clarity to investors" over the ongoing costs associated with investing in the portfolios. The firm said the move was in response to the Financial Conduct Authority's (FCA) call for fund managers to improve pricing transparency, included in its Asset Management Market Study in November 2016. Industry reacts to FCA study: Fund rationalisation, significant costs and 'immoral' profits The FOC will replace the current ongoing charges figure (OCF) and will include the annual management charge, the ongoing costs of investing ...