A UK systematic manager has dropped the fees on a managed futures fund for Australian investors distributed by Colonial First State.
The Aspect Diversified Futures Fund (class A), which had $614 million in total assets at June end, was reduced from 1.60% per year in base fee to 1.20%.
Its wholesale class will go from 1.70% per year in base fees to 1.40%.
Performance fees for both versions stay at 20%. The changes came into effect June 8.
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Towards a perfect currency solution
The strategy uses trend-following systems with exposure to 230 of the most liquid global financial and commodity futures, currency forwards and (through an unlisted unit trust) other derivative contracts.
The class A returned 2.04% in the year June. Six month returns for the period were -3.02%.
CFS has been distributing Aspect Capital's strategies in Australia for a decade.