UK Money News
5th March 2008
Investment firms slash charges
Charges on conventional investment products have fallen for the third consecutive year, the industry has said.
The Association of Investment Companies (AIC) revealed that the average total expense ratio (TER), excluding performance-related fees, was down to 1.44 per cent from 1.55 per cent.
There was also an increase in the number of firms offering TERs below one per cent, up from 25 per cent last year to 30 per cent.
"In volatile markets, the impact of charges can be all the more acute, so whilst only one aspect to bear in mind, they are all the more relevant in these turbulent times," noted Annabel Brodie-Smith, the AIC's communications director.
"It's interesting that the investment company sector has bucked the trend with charges coming down.
"Competitive charges are just one of the qualities that many investment company investors hold dear, and it's encouraging that this is still very much a strong feature of the sector," she added.
Investors are likely to be more choosey this year, in light of the uncertainty surrounding stock markets and leading economies.
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