Update: Fidelity introduces performance-related variable fee after regulatory delay

Known as 'fulcrum fee'

Fidelity has implemented a variable management fee option on five of its equity funds, which will mean fees are dependent on performance relative to a benchmark.

Announced last year, the firm had expected to launch the new share classes in Q1 but was delayed while it waited for regulatory approval from the Financial Conduct Authority (FCA).   It has now implemented them on the £3.3bn Fidelity Special Situations, £2.5bn European, £2.6bn Global Special Situations, £896m American and £8m Asian Dividend funds. Fidelity will also introduce the fee on its £294m Fidelity Asian Values, £1.6bn China Special Situations and £242m Japan investment trusts from 1 August.  Fund buyers warn new Fidelity charging model 'may not deliver for investors' The...