The FSA Spy market buzz – 26 July 2024
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The Fidelity fund’s clean share class has ongoing charges (OCF) of 1.08%, while the Mirae fund’s clean share class OCF is 0.98%.
Both are competitively priced when compared to their peers, according to Daniels. The peer median OCF for the clean share class is 1.1%.
Turning to the retail share classes, the Fidelity fund’s OCF is 1.93%, while the Mirae fund’s OCF is 1.73%. The Fidelity fund is more expensive than its peers, with the peer median OCF at 1.83%.
Daniels believes that Fidelity’s higher fees are justifiable, given that the fund has been consistent with its process and performance.
“That said, we think they could rather do a better job of sharing economies of scale with investors and we hope that they will start doing that.”
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