The company made the announcement as it unveiled its new performance-based charging structure, and assured the fact that both changes will be introduced simultaneously will make sure clients won’t be worse off.
“The reduction of our base management fee will exceed and offset the allocated client charge for this research,” said Brian Conroy, president, Fidelity International.
Fidelity said it believes the debate around Mifid II “has focused singularly on which model asset managers will use to pay for external research, rather than the total cost of asset management services and the value they deliver.”
The company pledged it will increase option for clients who do not wish to pay for external research and active management, by “extending our successful range of low cost index funds.”
