Fidelity FundsNetwork has confirmed it is reviewing the discounts it offers investors in parent company Fidelity’s Navigator funds, following the FCA’s platform policy statement last week.
Financial Conduct Authority (FCA) final rules on payments to platforms indicated that the regulator did not want any platform provider to cross-subsidise the platform charge when investors buy funds run by its parent company.
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Currently, FundsNetwork waives the platform fee if investors buy one of its 15 Navigator funds.
The GBP2.9 billion Navigator fund range includes Trevor Greetham’s GBP711 million Fidelity Multi-Asset Strategic and GBP614.4 million Fidelity Multi-Asset Growth funds, and Richard Skelt’s GBP883.5 million Fidelity Wealthbuilder.
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By GlobalData
