Orbis UK head: Fidelity fees move is step in right direction

Dan Brocklebank: “Given the industry’s track record, investors and their advisers can certainly be forgiven for looking at new fee models with scepticism.”

In letting fixed-percentage charges to become so prevalent, argues Dan Brocklebank, the funds industry has allowed a conflict of interests between clients and managers to persist for too long.

Fidelity International’s pivot toward performance-based fees was yet another watershed moment in an eventful year for the UK fund management industry. It follows the Financial Conduct Authority’s (FCA)…

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