Fidelity Special Values trust board to introduce tiered pricing structure

Effective from 1 September

The board of the £730m Fidelity Special Values investment trust has today announced plans to reduce the company's annual charge as it adopts a new tiered pricing structure.

From 1 September, the trust's annual charge will be cut from 0.875% to 0.85% on the first £700m of net assets under management and 0.75% for the remainder. Meanwhile, its fixed annual administration fee (for non-portfolio management services) of £600,000 per annum will reduce to £100,000. The changes come after a review of the management fee payable to Fidelity International and as the group introduces its variable 'fulcrum fee' across a number of its open and closed-ended fund range. This is the final of the firm's five investment trusts to adopt a new structure and the second to rej...