Different fund/product fees by platform

nick1234

Hi

i see the same product whether its a fund or robo investment with different management charges (same share class) whether held on firms own platform or externally.  Is this allowed can a firm charge a lower fee if you hold directly with them?  Im not talking of platform or custody fees, but management charges

thanks

ColdIron

I have never seen different OCFs for the same fund class (A, B, X etc)

Can you give us an example?

dunstonh

i see the same product whether its a fund or robo investment with different management charges (same share class) whether held on firms own platform or externally.

Can you give us further information as that doesn't seem likely.   The OCF would be the same on all platforms using the same share class, as would the TC & IC.

However, the data snapshots for the charges can lead to disclosures showing a different charge if the fund has recently changed.    OCFs tend to be relatively stable but TC can change monthly.      So, if the provider/platform is using a different snapshot date, then the charges disclosure could vary.   However, the actual charge you pay would be the same.  Its just their disclosure that is different.  That is extremely common.

  Is this allowed can a firm charge a lower fee if you hold directly with them? 

it is allowed but many will charge a higher fee as they use a different share class.  Very few use a cheaper share class.

Im not talking of platform or custody fees, but management charges

What charges?  AMC, TER, OCF, OCF ex Ante, TC, IC or what?

NithyaH

Do you mean, to cite an example I am familiar with, how Fidelity offer the Fidelity Index World fund with a slight discount via their platform?

dunstonh

NithyaH said:

Do you mean, to cite an example I am familiar with, how Fidelity offer the Fidelity Index World fund with a slight discount via their platform?

They do but it is a different share class and the OP claims it is the same share class.

NithyaH

dunstonh said:

NithyaH said:

Do you mean, to cite an example I am familiar with, how Fidelity offer the Fidelity Index World fund with a slight discount via their platform?

They do but it is a different share class and the OP claims it is the same share class.

Are you sure?  I think Fidelity offer a negotiated discount on the P Acc fund which is also offered on other platforms.

Qyburn

NithyaH said:Are you sure?  I think Fidelity offer a negotiated discount on the P Acc fund which is also offered on other platforms.

Both Fidelity and HL show the charge as 0.12%

dunstonh

There can be a difference on the Fidelity restricted workplace pension product.  However, that is usually more expensive than then whole of market version.

NithyaH

Qyburn said:

NithyaH said:Are you sure?  I think Fidelity offer a negotiated discount on the P Acc fund which is also offered on other platforms.

Both Fidelity and HL show the charge as 0.12%

Yes, but Fidelity then apply a 0.01% discount so the charge is actually 0.11% with Fidelity.

dunstonh

NithyaH said:

Qyburn said:

NithyaH said:Are you sure?  I think Fidelity offer a negotiated discount on the P Acc fund which is also offered on other platforms.

Both Fidelity and HL show the charge as 0.12%

Yes, but Fidelity then apply a 0.01% discount so the charge is actually 0.11% with Fidelity.

Are you sure that isnt just a snapshot date difference in the reporting?

noclaf

Fidelity P World ACC has a 'Negotiated fund manager discount (%)' as copied from the fund specs of 0.02 on the Fidelity platform.....it's partly the reason I invested in this fund within my sons JISA on Fidelity.