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Fidelity adds 49 investment trusts to funds supermarket

Fidelity Personal Investing allows access to investment trusts run by other groups for the first time, including the UK's largest trusts.

 

by Daniel Grote on Jan 14, 2016 at 13:26

Fidelity adds 49 investment trusts to funds supermarket

Fidelity Personal Investing has added 49 investment trusts as it opens up the funds supermarket to trusts run by rival fund groups for the first time.

Fidelity, the fund management group that owns that platform, had previously offered only investment trusts run in-house: Fidelity Special Values (FSV ), European Values (FEV ), Japanese Values (FJV ), Asian Values (FAS ) and China Special Situations (FCSS ).

It has now opened up the range offered to include those run by 33 other fund groups, including the UK's largest investment trusts. Scottish Mortgage (SMT ), Alliance Trust (ATST ), Foreign & Colonial (FRCL ) and RIT Capital Partners (RCP ) are among the biggest trusts now available on the platform.

Investors using Fidelity have previously relied on two separate platforms if they hold shares and investment trusts alongside funds. The Personal Investing platform had until now only allowed access to Fidelity trusts, with investors wanting access to trusts run by other fund groups, or shares, directed to the group's share dealing service, ShareNetwork, which relies on stock broker Charles Stanley's platform.

The change means that investors will now be able to hold a broader range of investment trusts within self-invested personal pensions (Sipps). While the Personal Investing platform offers a Sipp wrapper, none is offered by the ShareNetwork platform, although Fidelity does provide a share dealing ISA.

Investors holding investment trusts in an ISA and Sipp on the Personal Investing platform will be charged a monthly service fee of £3 a month, but the charge will not apply to those with portfolios below £7,500, who pay a £45 annual account fee. The £3 monthly charge kicks in for larger portfolios, on top of the percentage-based account charges they pay. Investors with portfolios of up to £250,000 pay 0.35% and 0.2% is levied on those larger than that.

Investors will also be charged 0.1% each time they deal in an investment trust. This compares with the £9 trading fee, or £18.50 for phone transactions, on the ShareNetwork platform.

The funds supermarket has also boosted its range of exchange-traded products, adding a further 16 exchange-traded funds and commodities.

The full list of investment trusts now available on the Fidelity Personal Investing platform are listed below:

Investment trusts
Aberdeen Asian Income JPMorgan Indian
Aberforth Smaller Companies Majedie
Alliance Trust Montanaro UK Smaller Companies
Artemis Alpha Murray Income
Baillie Gifford Shin Nippon Murray International
BlackRock Frontiers Pantheon International
BlackRock Income Strategies Perpetual Income and Growth
BlackRock World Mining Personal Assets
British Empire Polar Capital Technology
Edinburgh RIT Capital Partners
F&C Commercial Property Schroder UK Growth
Fidelity Asian Values Scottish Investment Trust
Fidelity China Special Situations Scottish Mortgage
Fidelity European Values Standard Life Investments Property Income
Fidelity Japanese Values Temple Bar
Fidelity Special Values Templeton Emerging Markets
Finsbury Growth & Income Baillie Gifford Japan
Foreign & Colonial Bankers
Fundsmith Emerging Equities City of London
GCP Infrastructure Investments Mercantile
Henderson European Focus Monks
HICL Infrastructure Company TR Property
International Public Partnerships Troy Income & Growth
John Laing Infrastructure Utilico Emerging Markets
JPMorgan American Witan
JPMorgan Claverhouse Woodford Patient Capital
JPMorgan Emerging Markets Worldwide Healthcare

10 comments so far. Why not have your say?

Ian Lees

Jan 14, 2016 at 17:12

I wonder if that was under the instruction of Standard Life ?

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masud butt

Jan 14, 2016 at 18:06

How many charges?

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William Dickson

Jan 14, 2016 at 21:28

The £3 monthly fee is not per trust but can include multiple trusts for the one fee.The .35%service fee only applies to unit trusts held.

If you stick to Investment Trusts for a Sipp you have a £36 annual charge regardless of portfolio size and very competitive dealing charges,great for drawdown .Pretty great

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Ian Lees

Jan 15, 2016 at 12:07

I quite agree with William Investment Trusts have seen their charges reduced against the " easy option " IE Unit Trusts - and I wonder how many authorised advisers explained to their clients when " restructuring " or " rebalancing " or " churning " - why they did not look at Investment Trusts ? With Standard Life's reputation for double charging and refusal to accept new business for Fidelity - in pensions etc., How can consumers be informed of charges and the controls of Standard Life over Fidelity . To date Fidelity refuse to explain to advisers why Standard Life has undermined Fidelity - and their own clients. This may be one reason the company has earned the title of Sub Standard Life ?

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phil selby

Jan 15, 2016 at 18:53

Are we sure the 0.35% charge does not apply on sipp account with just investment trusts? I have read it differently?

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claude via mobile

Jan 16, 2016 at 10:19

£9 dealing charges is not competitive

Just less than the greedy HL ,!l

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Kaufman

Jan 16, 2016 at 10:41

The list of IT's now available looks impressive. One of the main frustrations previously for me as a Fidelity customer was the separation of their funds and share dealing platforms.

Does anyone know whether there is a dividend re-investment service from Fidelity for investment trusts held in a ISA wrapper on their platform?

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Frank Frank

Jan 17, 2016 at 13:20

William D, Thank you for explaining clearly the wooly writings of this author about Fidelity charges.

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William Dickson

Jan 19, 2016 at 17:24

Phil Selby

I too thought that but Fidelity have confirmed by email that this is the case.

Phil Selby

I am currently in drawdown withdrawing monthly.12 trades amounting to £6000 annually (500 month) costs £6 in total, that's 500 per trade.Its .10% per trade not £9.

I don't think there is cheaper than that.Great for drawdown or re balancing . Just applies to ITs

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William Dickson

Jan 19, 2016 at 17:26

Sorry that should read 50 pence per trade

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