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Fidelity secures 'lowest cost' share class deals from 15 fund groups
by Michelle Abrego on Dec 12, 2013 at 10:43
Fidelity has secured the lowest cost share class available from 15 out of 20 of the biggest fund groups on its FundsNetwork platform.
In return the fund group have joined Fidelity’s fund partnership programme, Access, which offers them enhanced marketing, event opportunities and direct access to support from Fidelity staff.
Fidelity said it had invited 90 fund groups to join the Access the programme, and that 86% had signed up.
Membership of the programme is based on three criteria: quality products, operational effectiveness and competitive pricing.
A Fidelity spokeswoman declined to name the fund groups who had signed up to Access, and said that the company was still in negotiations with some fund groups.
‘Whilst pricing is only one of three key criteria, we are pleased that 86% of fund partners, and 75% of our top 20 groups by assets, have agreed to supply Fidelity’s platform with the lowest cost share classes available and will therefore be included in the Access programme,’ she said.
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