Axa Asia Pacific is planning to reduce the fees for its popular North platform.
"Our 2012 plans . include an extensive review of our pricing, leading to reductions to our existing standard administration fees," the company told its clients.
The fee reductions are expected to become effective in April and will include a reduced standard administration fee and a fee cap reduction from $9000 to $4500.
It will also include the introduction of a cash account and new investment options in the company's discounted multi-sector pricing, and an introduction of family fee aggregation.
"Up to four family members can receive a group administration rate based on their combined funds under management," Axa said.
The reduction in standard administration fees only applies to accounts with a balance of $150,000 or more.
Most rates will see a reduction of 5 basis points.
Account balances of $400,000 to $749,999 will receive a fee reduction of 15 basis points from 0.60 per cent to 0.45 per cent, while balances of $750,000 to $999,999 will receive a 20 basis point reduction from 0.50 per cent to 0.30 per cent.
Account balances of $1 million to $1.49 million will receive a 15 basis point discount to 0.30 per cent.
The price changes will be retrospective.
