Fidelity cuts charges on multi-asset range

Fidelity has reduced the annual management charges on its multi-asset range, aligning the fees to 1.25%.

Trevor Greetham's Multi Asset Growth fund will see its AMC fall by 0.15%, although the charge will rise by 0.10% on the Multi Asset Defensive fund to bring it in line with 1.25% for his Multi Asset Strategic fund.

Meanwhile, the Fidelity Target 2025 and Fidelity Target 2030 funds will see their charges reduced from 1.5% to 1.1% when the funds are seven years before their target date.

The AMC will be reduced further to 0.85% when the funds are two years from their target date.

Currently, the AMC of the Target 2025 and Target 2030 funds is 1.5%, which is reduced to 1.25% when the funds are five years from their target date.

The revisions to the funds' charges are being made to better reflect the asset mix of the funds as they approach their target date, according to Fidelity.

"Subject to approval by the FSA, the annual management charges of Fidelity's Multi Asset funds will be aligned on February 13 - resulting in the entire range having an AMC of 1.25%," said a spokesperson for Fidelity.

Last year, Fidelity launched a low cost Multi Asset fund range, designed to target the fee-based adviser market.

The Multi-Asset Allocator Defensive, Multi-Asset Allocator Balanced and Multi-Asset Allocator Growth funds launched in October.

The fund's A-shares are running a 1% AMC and 0.5% trail commission, while the N-shares charge 0.5% AMC with no trail.