Investment trust Fidelity Special Values is to drop its fixed annual administration fee by £500,000 and reduce its annual charge.
From 1 September, the annual charge will reduce from 0.875 per cent to 0.85 per cent on the first £700m of net assets under management and 0.75 per cent for the remainder.
The fixed annual administration fee for non-portfolio management services of £600,000 a year will drop to £100,000.
Fidelity Special Values chairman Andy Irvine says: “I am pleased that we can today offer shareholders a new tiered pricing structure. Based on the current size of the company, this is equivalent to an overall reduction of approximately 9.5 basis points and will represent a useful saving for shareholders.”
Last month, Fidelity announced changes to the charges on its China Special Situations fund.
The company removed its performance fee and fixed annual charge in favour of a new variable management fee, effective from 1 July.