Clougherty: We would not cut our active fund prices to 30bps

Fidelity Worldwide Investment's John Clougherty has said the group would not price its active equity funds as low as 30bps, following news Hargreaves Lansdown has secured funds for that price on its new Wealth list.

Speaking to Investment Week, Fidelity's head of UK retail said the company's equity capability could not be priced so low, given the huge amount of resources the company invests into its research team. Clougherty (pictured) said while boutique businesses might be able to lower their own cost bases sufficiently to enable them to cut prices sharply, Fidelity's focus on having a very large team of equity analysts around the globe means it will not be as aggressive on pricing. "We would not go that low - 30bps for an active equity fund," he said. "If you are a niche group, you can cont...