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Lack of 20/20 vision on charges

I noticed recently that a fund company was increasing the annual management charge on some of its funds from 1.25 per cent to 1.5 per cent.

Being an IFA, I realised (after some time) that this was a 20 per cent increase in costs.

Why is it (here comes a rhetorical question) that people such as the members of the Treasury select committee do not question that sort of increase but would like to reduce our earnings at every level and opportunity?

Some might say it is because they want to keep their alternative employment boltholes open. I could not possibly comment.

David Barnett

DPB Independent Financial Services,

Edgware, Middlesex

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