Fidelity has moved to slash the ongoing charge figure of its passive multi-asset fund range run by Trevor Greetham to less than 0.3 per cent.
The group said its five-strong Multi Asset Allocator range, which invests in passive funds, would be available for 0.25 per cent on FundsNetwork and 0.28 per cent on third party platforms - down from 0.7 per cent.
The range includes funds at different risk levels rising from the most cautious Defensive fund to the most aggressive World fund, which invests 100 per cent in equities.
Ben Waterhouse, head of UK retail sales at Fidelity, said there was a “rising demand for low cost options”, something he said had prompted the group to also cut the charges on its index fund range to as low as 0.07 per cent.
“This additional move on our Allocator range is part of our ongoing commitment to deliver value to investors,” he added.
