Fidelity Worldwide Investment has cut the cost of its Asian Values investment trust and linked further reductions to the size of assets.
From 1 August, the annual management charge of the investment trust will be reduced from 1 per cent a year to a tiered pricing structure, starting at 0.9 per cent on the first £200m of the company’s gross assets.
Assets currently stand at £182.5m. If the company’s gross assets rise above £200m, the AMC will fall again to 0.85 per cent on assets over the £200m threshold.
The company has also switched the trust’s comparative index from the MSCI AC Far East ex Japan index to the MSCI Asia ex Japan index. Fidelity says these changes will not impact the investment strategy of the trust.
Fidelity Asian Values chiarman Kate Bolsover says: “We regularly review our fees to ensure they remain competitive, particularly following the RDR which has resulted in changes to pricing.
“Both the board and Fidelity believe this change will be attractive to new investors considering Fidelity Asian Values and this will be to the benefit of investors in the company overall.”