Fund managers have moved more than 320,000 investors into cheaper share classes of funds, saving them over £30m thanks to their value assessment reports, analysis has revealed.
Figures from The Times suggested investor savings on being moved out of more expensive, or legacy, fund share classes ranged from 0.11% to 0.5% per year, equalling between £110 and £500 on an investment of £100,000. Averaging these savings at £100, investors will have saved around £32.1m over the course of a year, The Times claimed. The analysis comes after the majority of large UK asset management firms have published their assessment of value reports (AoVs), which force them to decide whether their products offer clients value or not. These considerations can be due to performanc...
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