Deutsche Asset Management has announced it is cutting the fees on a wide range of Europe-listed ETFs to mark the 10th anniversary of the launch of its ETF business.
Manooj Mistry, Deutsche AM’s Head of Passive Asset Management, EMEA.
The funds selected for fee reductions offer global, European, US, Japanese, emerging markets, and global sector exposures, and include products tracking major investable indices such as MSCI Europe, MSCI Japan, MSCI Emerging Markets, Russell 2000 and the S&P 500 family of currency and non-currency hedged indices.
Manooj Mistry, Deutsche AM’s Head of Passive Asset Management, EMEA, commented: “As we celebrate ten years as an ETF provider we have undertaken to reduce management fees to thank loyal clients for their continued support and to demonstrate our commitment to providing good value in terms of tracking performance after fees.”
The average reduction in fees across the ETFs was 14bp while the db x-trackers MSCI Japan Index UCITS ETF saw a fall of 20bp in its ongoing costs.
“Our aim is to provide highly efficient, quality index trackers for our clients, and also position Deutsche AM for a further ten years as a leading ETF provider,” said Mistry.Deutsche AM recently lowered fees across several of its bond ETFs to establish a ‘core’ fixed income ETF suite as a complement to its existing core equity ETF range. The funds are designed to be low-cost mainstream benchmark trackers, and suitable as long term holdings within investors’ portfolios.
According to Deutsche, the new reductions further serve the core range and should help clients manage their portfolios even more efficiently.