The board of Fidelity China Special Situations has decided to cut the trust’s annual management fee.
Fidelity informed that the annual management charge on Anthony Bolton’s trust will be reduced from April, 2013. This move is similar to that of Baillie Gifford, which cut the cost of four smaller company vehicles.
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The board of Fidelity China Special Situations and Fidelity Worldwide Investment has agreed to drop the annual management charge from 1.5% to 1.2% per annum.
John Owen, chairman of Fidelity China Special Situations, said: "Both the board and Fidelity believe this competitive pricing will be attractive to new investors considering Fidelity China Special Situations and this will be to the benefit of investors in the company overall."
Like a number of specialised smaller company funds, fees can be a bugbear among investors, and although Bolton (pictured) has turned his performance around of late, his trust previously struggled to grow its share price and net asset value (NAV).
Over the year ended 31 February, Bolton’s Fidelity China Special Situations NAV was up 10%.
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By GlobalData
