Australian Ethical flags profit slide

Australian Ethical Investments expects its first half profit to slide by more than a third after reducing fees.

Fund manager Australian Ethical Investments has warned its first half profit should slide by more than a third after it cut the fees it charges clients.

The company expects to make a profit of between $800,000 and $970,000 for the six months to December 31, down from $1.21 million a year ago.

Underlying profit is expected to be between $950,000 and $1.16 million, down from $1.42 million a year ago.