Fidelity cuts ongoing charges on Multi Asset passive range

Fidelity Worldwide Investment has cut ongoing fees on its range of Multi Asset Allocator funds.

The Fidelity Multi Asset Allocator range are aimed at different levels of client risk, investing in passive index-tracking funds across equities, bonds and cash.

The ongoing charge will be brought down to 0.25 per cent via its own FundsNetwork platform from a previous level of 0.45 per cent across the full range of five of multi asset allocator funds from the start of October.

The ongoing charges will also be lowered on other platforms from 0.7 per cent to 0.28 per cent.

FWI head of UK retail sales Ben Waterhouse says: “We recognise that there is a rising demand for low cost options which is why we lowered the cost of our index range earlier this year. 

“This additional move on our Allocator range is part of our ongoing commitment to deliver value to investors.”