Fidelity Worldwide Investment has argued that the asset management industry needs to create a new standard to bring greater transparency to investment charges as ‘Ryanair’ pricing starts to emerge.
Following on from Fidelity’s decision in September last year to separately show fund manager, adviser and platform charges, the asset manager wants to see the industry work together to develop a standard approach to disclosing the total cost of owning a fund.
Gary Shaughnessy, UK managing director, said: ‘We are seeing selective and partial ‘Ryanair’ pricing start to emerge which runs the risk of misleading investors about the real costs they are paying. A consistent way of showing charges is essential to restoring investors’ trust in the industry and encouraging them to feel confident to save for the future.
Source: Citywire. Read full article here.