The platform has reduced the charges as it passes on benefits from economies of scale.

The multi-asset funds were launched five years ago.

As the fund range has grown to £1.3bn in assets under management, AJ Bell has reduced the annual charges from 0.5% at launch to 0.31% today, a reduction of 38%.

Kevin Doran, managing director of AJ Bell Investments, said: “As the AJ Bell funds have grown in size we have stayed true to our commitment on costs to pass back the benefits of scale to investors.  With a five-year track record under our belts, we are proud of the performance achieved to date and are committed to cutting costs further as the range continues to grow.”

AJ Bell’s multi-asset funds are invested across equities, bonds, alternatives and cash, using low-cost passive funds to keep charges low.

The funds are managed in line with five different risk levels so that advisers can choose the fund that matches their clients’ individual risk profile.

Last month the platform and SIPP provider reported in its Q2 trading update that total customer numbers rose 21% over the past year and 5% in the past quarter to 418,309.

Advised customers totalled 137,201, up 16% in the last year and 4% in the quarter.

Despite the positive news on customer numbers, net inflows in the quarter fell by £0.2bn to £1.6bn and total assets under administration fell by 2% to £74.1bn due to “adverse market and other movements of 4%,” the platform said. 

Established in 1995, AJ Bell is one of the largest investment platforms in the UK, operating at scale in both the advised and direct-to-consumer markets.