Fidelity makes 'price parity' promise on rival D2C fund deals

Fidelity's Personal Investing platform has moved to minimise the impact of D2C super clean fund deals on the end-investor by offering to refund the difference when funds are available more cheaply elsewhere.

Fidelity's 'Price Promise' will see the group pay the difference between clean share classes of unit trusts and OEICs if competitors are selling funds cheaper elsewhere, in a move which could erode the competitive advantage that may have been secured by the likes of Hargreaves Lansdown. The offer, which runs until 31 December 2014 for investors with under £1m in assets, will come into force if investors find cheaper funds on four platforms: Hargreaves, Barclays, Bestinvest and TD Investing. Fidelity suggested the move is designed to remove the focus on price from the investment decisi...