Shaughnessy and Miller tackle fund charges on Today programme

Gary Shaughnessy, Fidelity's UK managing director, said a new fund charging method called total cost of ownership (TCO) should replace existing fund charges including TERs.

Following up its call for greater transparency on charges, Shaughnessy told BBC Radio 4's The Today Programme all the costs of a fund - including dealing costs and any government tax such as stamp duty - should be included in a new charge. The total cost of ownership charge would tackle what Shaughnessy (pictured) said was the "increasingly complicated" way fund charges are being expressed. "We are proposing a new measure called total cost of ownership which covers all these costs," he said. Fidelity is calling for investors to be able to see the total cost of owning a fund - inclu...