Fidelity cuts fee on global and EM funds

Fidelity International has announced it will reduce the management fee on both the Fidelity Global Emerging Markets Fund and Fidelity Global Equities Fund to 0.99 per cent.

This would represent a fee reduction of 0.31 per cent on the Fidelity Global Emerging Fund and 0.16 per cent on the Fidelity Global Equities Fund, the company said.

Additionally, the fee for the hedged version of Fidelity’s Global Equities Fund would be cut to 1.04 per cent.

Fidelity International said it invested A$418.9 billion globally on behalf of clients in the Asia-Pacific, Europe, the Middle East and South America.

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The Fidelity Global Equities Fund is a diversified portfolio of 80-120 global firms and managed by Amit Lodha, while the Fidelity Global Emerging Markets Fund, managed by Alex Duffy, typically invests in a concentrated portfolio of 30 to 50 companies across emerging markets.

Managing director, Australia, at Fidelity International, Alva Devoy said: “As we approach the end of the economic cycle, never has it been more important for Australian investors to diversify their holdings.”

“We believe Global and Emerging Markets funds are a great option to help them do this and this latest fee reduction makes it even more attractive to access Fidelity’s expertise.”