Guinness cuts fees across Irish-domiciled funds

Guinness Global Investors has cut its fees on 10 of its Irish-domiciled funds, including the £1.1bn Global Innovators fund and the £240m Asian Equity Income fund, to align them with the flagship £5.4bn Guinness Global Equity Income fund.

The Guinness Global Equity Income fund uses a waterfall fee structure, which has seen fees for standard Y share classes fall from 0.99% to 0.77%, with the reduction locked in.

Comparable fees will be applied to the 10 Irish-domiciled funds from 17 November.

When AUM in any of the 10 funds reaches a pre-set waterfall level, marginal fees will be reduced to 0.55%, passing on economies of scale to investors through lower blended fees as the funds grow.

Similar reductions are being made to the funds’ C, D, I and Z share classes, while fees are also in the process of being cut across the UK-domiciled WS Guinness Investment Funds.

Edward Guinness, CEO, Guinness Global Investors, said: “Investors will be able to access our strategies with even lower costs thanks to this reduction in our fees.

“We are committed to passing on to investors the benefits of our growing scale. Lower fees support our aim of delivering first-quartile long-term performance for our investors.”