TwentyFour Asset Management has reduced the fees on its Monument Bond fund from 75bps to 60bps as a result of increased investor demand for asset-backed securities (ABS).
The flagship fund, which was launched in 2009, recently surpassed £700m in assets under management and is one of the firm's oldest funds. As a result of demand for ABS, the firm has decided to reduce the management fee on its 'I' and 'L' share classes in order to offer clients better value for money. On the 'I' share class, fees have dropped from 75bps to 60bps, while charges have reduced from 50bps to 35bps on the 'L' class. Run by Ben Hayward, Rob Ford and Aza Teeuwen, the fund invests primarily in European ABS. Hayward, partner and portfolio manager at TwentyFour, said h...
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