Transamerica has reduced fees on 26 share classes of several actively managed mutual funds and variable annuity funds.
The fee reductions range from two to 20 basis points and are the second set of fee cuts for the year. They were effective as of Aug. 28 for some funds and Aug. 31 for others.
In a statement, the company said its “commitment to reassess fees is ongoing,” but the latest fee cuts are timely given these “most turbulent times” in the market.
“By putting more of their money to work, these fee reductions can help fund shareholders better plan for the future,” said Tom Wald, chief investment officer of Transamerica Asset Management, in a statement.