Global value boutique Ranmore Fund Management has cut the investment management fee on its flagship Ranmore Global Equity fund, after the strategy surpassed $500m assets under management.
As a result, the fee has been reduced by 15 basis points to 0.75% on all assets between $500m to $1bn.
The fund, managed by Sean Peche, has grown tenfold in recent years from $50m AUM in September 2022.
Over five years, the strategy has returned 98.6%, placing it in the top quartile of the IA Global sector over one, three and five years. The average IA Global fund returned 49.16%, according to FE fundinfo data.
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Andrew Lapping, CIO at Ranmore, said: “Our goal has always been to share the benefits of scale with our clients and as we grow, we are committed to passing on these advantages to our investors.
“This fee reduction is just the beginning; our next milestone is $1bn in AUM, at which point the fee falls further on assets above that threshold.
“We believe this is the right approach for our clients, for our business, and for ourselves as we are also investors in the fund.”