Columbia Threadneedle has scrapped the performance fees on its range of UK retail funds — a move that could herald an industry shift away from the charging structure amid a “value for money” drive by regulators.

The US-owned asset manager is ditching performance fees on four funds: the Threadneedle American Extended Alpha fund, the Global Extended Alpha fund, the UK Extended Alpha and the UK Absolute Alpha, it said in a statement on 6 January.