Fidelity scraps adviser trail on China Special Sits

Fidelity Worldwide Investment is to stop paying trail commission to IFAs on Anthony Bolton's China Special Situations investment trust.

The change will kick in at the beginning of April. Ahead of the trust's handover from Bolton to Dale Nicholls, the group lowered the trust's AMC from 1.2% to 1%, having already reduced it last year from 1.5%. However, as part of the latest move on fees, the group has opted to scrap trail commission - worth 0.5%. A spokesperson said: "In this post-RDR environment we think it makes sense to have a single, unloaded share price so all our customers pay the same price." The trust was one of the most popular fundraisings of the last 20 years, taking in £460m initially when it launched...