Fidelity scraps adviser trail on China Special Sits

The change will kick in at the beginning of April.

Ahead of the trust's handover from Bolton to Dale Nicholls, the group lowered the trust's AMC from 1.2% to 1%, having already reduced it last year from 1.5%.

However, as part of the latest move on fees, the group has opted to scrap trail commission - worth 0.5%.

A spokesperson said: "In this post-RDR environment we think it makes sense to have a single, unloaded share price so all our customers pay the same price."

The trust was one of the most popular fundraisings of the last 20 years, taking in £460m initially when it launched in 2010.

Some of this was direct money, but advisers also snapped up the shares to meet client demand for access to one of the UK's most successful stock-pickers.

Trail commission on the trust will cease from 1 April when the fund charge drops.

Fidelity has also cut the performance fee cap, meaning the maximum that can be levied when the fund outperforms against its benchmark will be 1% of the value of the assets, down from 1.5%.

 

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• trail commission