Fidelity raises fees on multi-asset funds as part of overhaul

Fidelity Worldwide Investment has raised the AMC on two of its multi-asset funds as part of the rebrand and restructure of its multi-manager range.

The group - which this week announced it was launching a new Open range of funds - has upped the annual charge on two multi-manager funds which form part of the new investment offering. Its existing Multi-Manager Growth and Multi-Manager Balanced funds - now renamed as Multi-Asset Open Growth and Multi-Asset Open Strategic - have both had their AMCs raised from 1% to 1.25% for the retail share class. Fidelity said the rise - which will put them on the same charging structure as the newly launched Multi-Asset Open funds unveiled yesterday - accounted for the wider investment objective ...