SEI cuts clean share class fees of strategic portfolios
SEI is lowering the total fund fees of its clean share class of several strategic portfolio funds by five to 10 basis points each to ensure alignment with the company's bundled share class.
The funds fees being lowered are the Wealth A share class of: the SEI Defensive Fund (with the total fund fee reduced to 0.65 per cent from 0.70 per cent); the SEI Conservative Fund (reduced to 0.75 per cent from 0.80 per cent); the SEI Moderate Fund (reduced to 0.80 per cent from 0.90 per cent); and the SEI Aggressive Fund (reduced to 1.05 per cent from 1.11 per cent).
The SEI Strategic Portfolios are risk-rated, multi-asset funds with a manager-of-manager investment structure that offers retail investors access to some of the best active institutional fund managers around the world.
"While we have offered a clean share class since the SEI Strategic Portfolios launched in 2009, for legacy reasons the prices of some of the funds were slightly out of alignment with their bundled equivalents," says Kevin Addison, head of European asset management distribution at SEI. "As a company committed to ensuring that all investors receive the best possible price, regardless of share class, we are pleased to adjust these fees appropriately."
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