28th July 2015
BlackRock has halved charges on some of its biggest index tracking funds covering the UK, US and European markets.
The fund group has cut the charges on its giant £8.7 billion BlackRock UK Equity Tracker and its £650 million 100 UK Equity Tracker to 0.07% from 0.16%.
Legal & General UK Index and UK 100 Index are cheaper, at 0.06% on Hargreaves Lansdown but 0.1% when bought elsewhere..
The charges on the £793 million BlackRock US Equity Tracker, which follows the FTSE USA index, and the £2.6 billion North American Equity Tracker, based on the FTSE World North America index, have been reduced from 0.16% to 0.08%.
BlackRock has also cut the cost of £2.9 billion Continental European Equity Tracker, which follows the FTSE World ex-UK index, from 0.17% to 0.1%.
BlackRock head of UK retail Tony Stenning says: “Through our scale, we’re pleased to be able to offer investors five key equity exposures at a competitive price.”