Fitz Partners: One in six fund share classes have changed fees in past year
The Fitz database contains around 40,000 share classes
The Fitz database contains around 40,000 share classes
Changes will reduce the firm’s underlying cash result ‘over the next few years’
Negotiations with fund houses have resulted in reduced pricing
FCA warns not enough firms are cutting fees
Charge for fund and investment trust trades dropped to £3.99
It will apply to all but two of the firm’s UK domiciled strategies
Current processes a ‘tangled web’ of obligations and eligibility criteria
The company also makes changes to cash management
Global Multi-Asset range will have a maximum cap of 0.22%, down from 0.29%
Investment platform market becoming increasingly competitive
Trust has agreed to lower the overall fee to 12.5% of adjusted NAV above a high-water mark
Moving from a 50:50 ratio to 60:40 split allows clients to retain clear majority of future outperformance