Fund manager and financial provider Abrdn will rebrand its MyFolio Managed range of five funds to become Abrdn MyFolio Core from 1 April.

It will also cut the fund fees as part of a suite of changes designed to increase flexibility, it said. 

The 40% maximum cap on passive funds will be removed, allowing the fund managers more flexibility in different market conditions, Abrdn said.

The funds will take a ‘go anywhere’ approach, and will no-longer be limited to investing a minimum of 60% in Abrdn active products. Instead, they will be able to invest in internal and external active and passive funds in which the team has high levels of conviction.

The majority of assets in the range are accumulation shares, with the institutional share class the primary class available on distribution platforms, Abrdn said. Within that, the ongoing charges figure on the five funds will be cut from up to 0.75% to up to 0.65%.

Fee changes of rebranded funds

Katie Trowsdale, co-manager of the Myfolio Managed range, said: “Over the course of the past 14 years, we have evolved the MyFolio franchise to meet the needs of our clients, but the constant theme has been diversification, all within carefully-selected risk profiles.

“These changes mean we can enhance this strategy further, with a ‘go anywhere’ approach that can be tilted to changing environments, while bringing down fees and expanding our investable universe.”

Robert Bowie, co-manager of the Myfolio Managed range, said: “The range will continue to be managed with exactly the same philosophy and risk requirements.”