Coronation Fund Managers, which oversees about R600bn in assets, is reducing its investment management fees on three of its funds to encourage retirees to either stay invested in multi-asset funds that offer at least some exposure to growth assets like equities, or to lure back those that have opted for low-risk, low-return alternatives.     

The Cape Town-based asset manager will permanently cut the investment management fee of its Capital Plus and Balanced Defensive funds to 0.75%, from 0.85% previously, and will introduce a fee holiday on its Strategic Income fund, which will see the investment management fee drop to 0.35% from 0.45% for 12 months. The fee reductions on the three funds, which have combined assets under management (AUM) of R86.37bn, will come into effect on April 1...

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