Fidelity Worldwide Investment is to make further cuts to the ongoing charges of its index tracker range, as pressure on fees continues to build across the industry.
The group is set to reduce the charges on its seven-strong range of trackers, with some fees dropping as low as 0.06% for investors using the FundsNetwork platform and certain wholesale clients. For other clients, the charge will start at 0.08% per annum for the UK tracker fund and 0.09% for the US tracker (see table below). When bought through the FundsNetwork platform, Fidelity's trackers now beat competitors on price for some of the most popular products, with the UK, US, Japan and EM trackers now 1bps cheaper than BlackRock's tracker funds. The group first reduced fees in May ...
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