Fidelity Funds is to reduce charges on clean share classes in its SICAV fund range and simplify fees on a number of bond funds, in a bid to make its charging structure clearer and more consistent.
The changes will come into force from 3 January and will affect retail investors in the W share class in the SICAV range, but will also apply to the Y, I and A share classes. In a letter to shareholders, the group said it is reducing the OCF as result of changes to the annual management fee (AMF) and administrative fees. "In some cases, the overall decrease in OCF will be the result of an increase in AMF being more than offset by a larger decrease in other fees such as administrative fees," the letter said. Miton scraps initial charge on multi-asset funds In addition, there wil...
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