Investor briefs

DIT dishes out larger cut to distributors

Deutscher Investment Trust (DIT) is raising the management fees on its funds. The management charge for equity products will be capped at 2 per cent, up from 1.75. The fee for bond and mixed funds will be increased by between 10 and 25 basis points, up from 0.7 to 1.5 per cent. Karl-Hermann Hammel, vice-president at DIT, said that “the new price structure moves DIT into line with market standards, in particular those of foreign providers”. But he conceded that the extra income would be spent on higher fees for distributors and on marketing. Mr Hammel would not reveal exact commission figures, but said that the new percentage rebated to distributors would remain in its current 25–50 per cent bracket.

Platinum tempts brave investors with risky fund Platinum Capital Management is poised to launch a US equity hedge fund for less risk averse investors. The London-based alternative fund of funds specialist has hired Turnberry Capital Management to run a portfolio of long and short US stock positions. The single manager makes the fund a higher risk, but potentially higher returning investment, according to Craig Reeves, managing director of Platinum. The minimum investment is e25,000.

BNY boosts portfolio monitoring service The Bank of New York will roll out a new client portfolio monitoring tool. BNY subsidiary Pershing, formerly owned by Credit Suisse, has selected Business Architects International’s eXimius investment management solution and Financial Software’s Cgix capital gains tax solution to provide an enhanced service to European customers.