Fitz Partners: Switching to clean share classes could save up to 55%

The research firm's UK Fund Charges database revealed Baillie Gifford investors would benefit on average from a 55% discount on their Ongoing Charges Figure (OCF) and 56.5% reduction on management fees from switching from a pre-RDR share class to a clean one. RDR, which came into force in 2013, is a set of rules aimed at introducing more transparency and fairness in the investment industry. The Financial Conduct Authority's final fund market remedies, published in April in response to the regulator's Asset Management Market Study, confirmed asset managers will be able to move existing...