Fidelity Asian Values will have a reduced annual management charge, starting at 0.9 per cent per annum on the first £200m of the company’s gross assets, from 1 per cent per annum now.
According to Fidelity, should the £182.5m investment trust’s assets exceed £200m, the annual management charge will be lowered further to 0.85 per cent.
The board also announced an alteration to the trust’s benchmark, which will change from the MSCI AC Far East ex Japan index, to the MSCI Asia ex Japan index.
It confirmed that portfolio manager Nitin Bajaj would still have “complete freedom” to invest in Asian companies of his choice and that the change has no bearing on the investments currently held in the portfolio.
Kate Bolsover, chairman of Fidelity Asian Values, said the board regularly reviewed its fees in light of the Retail Distribution Review.
She added: “Both the Board and Fidelity believe that this change will be attractive to new investors considering Fidelity Asian Values plc and this will be to the benefit of investors in the company overall.”
In the past year to July 23, the investment trust has delivered a 9.68 per cent total return to investors, compared to the IT Asia Pacific ex Japan Equities sector average of 4.53 per cent, according to FE Analytics.