Salford investment giant AJ Bell announced it has simplified the charging structure across its entire fund range which will see charges cut on its range of multi-asset funds.

AJ Bell said it has set a single 0.31% ongoing charges figure for all six of its multi-asset growth funds, making it easier for customers and advisers to understand.

Its two income funds will both charge 0.65% and its responsible growth fund will charge 0.45%.

AJ Bell chief investment officer Kevin Doran said: “We’re delighted that the change in our charging will give greater clarity and certainty to customers and advisers around what they’ll be charged when they invest in an AJ Bell product.

“The new model ultimately means cost cuts for most customers and fixes our pricing extremely competitively versus peers.

“Over time, we expect that with continued fund asset growth, we will be able to take advantage of economies of scale and decrease the level of the fixed OCF, further delivering value to customers.”