Fidelity reduces higher charge on UK Special Situations fund to encourage new investment

Fidelity has removed the higher initial fee on its UK Special Situations fund following the splitting of the vehicle last month. The initial charge was increased from 3.5% to 5.25% on unwrapped lump-sum investments in September 2005 to stem flows into Anthony Bolton's fund. However, the charge was reduced on 1 November, bringing the initial fees back into line with standard charges across Fidelity's range. Last month, the split of the £6bn portfolio saw one half of the original Special Situations fund continue to concentrate on the UK equity market with the other half restructured as the...