M&G instigates fee cuts across 75% of UK OEIC AUM

Changes affect 45 funds

M&G Investments has cut fees across 45 funds representing around 75% of the firm’s assets under management (AUM) held within its UK OEIC fund range, following a review.

As of 15 February 2021, the firm's largest offerings, the £3.2bn M&G Corporate Bond and £2.6bn M&G Global Dividend funds will take a 20 basis point reduction and be available for 0.45% and 0.7% respectively. M&G promises 'fresh action' on underperforming funds Also receiving a 20 basis point cut is M&G Strategic Corporate Bond, now at 0.45%, while M&G Recovery and Global Macro Bond will each stand 15 basis points lower at 0.7% and 0.65% respectively. Rounding out the changes to the £1bn+ AUM funds on the range, M&G Optimal Income will be available for 25 basis points less than be...