Investors receive an average discount of 50% after they have been moved out of their legacy retail share class, research shows.
Following the first round of funds' assessment of value (AoV) reports a number of asset managers moved investors out of their legacy retail share classes. Over last year, Fitz Partners tracked this movement of investors from the legacy retail share classes charging trail commissions into new or existing clean share classes charging lower fees. It then compared the management fees charged before and after the move described in asset managers' AoV statements. Funds 'failing' to meet FCA transparency measures - CFA UK report Fitz Partners found that for retail investors invested in...
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