Clean funds 'more expensive' in two-thirds of cases

The firm has written to the Financial Services Authority (FSA) to warn that the practice of providing a single clean fee to all platforms is "anti-competitive". Of the 1,317 clean share class funds analysed 66.4 % could be obtained at a lower cost via another class of the same fund after the application of rebates. Only 21.6% could be obtained at a lower cost with the clean share class. Earlier this month, IFAonline found a number of providers had raised charges on their funds when moving to clean share classes, either through premium pricing or increased administration fees. Th...