Fidelity Special Values reduces fee as Alex Wright dials up gearing

25bps fee cut

Fidelity Special Values (FSV) will reduce its management fee by 25 basis points from 1 January 2021, as the investment trust swaps its current tiered structure to a single, flat fee.

The board of the £523.7m investment company said it would move to a single fee of 0.6% of net assets at the turn of the year. It currently has a tiered structure of 0.85% on the first £700m of net assets, reducing to 0.75% of net assets in excess of £700m. Its current AMC makes it the most expensive trust in the IT UK All Companies sector, according to FE fundinfo. Its new structure will make it cheaper than Artemis Alpha, JPMorgan Mid Cap and Schroder UK Mid Cap. Numis drops Temple Bar in favour of Alex Wright's Fidelity Special Values In addition, it has removed the fixed a...