All Star KFM Fund restructures under mandate; reduces fees
The All Star KFM Income Fund will be reducing its fees by 25 per cent following a restructure away from a fund of fund structure to an investment mandate structure, the company announced.
The fund, which is managed by Kaplan Funds Management, now has a total indirect cost ratio of 0.85 per cent plus performance fees, with greater fee transparency, according to All Star Funds managing director Kate Mulligan.
The move would create operational and investor reporting efficiencies, with greater control of the investment mandate parameters and practices, Mulligan said.
The fund’s running yield was 7.3 per cent including franking credits as of the end of July.
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