Fidelity International will reduce fees to 0.85% from 0.875% for the £720 million ($956.7 million) Fidelity Special Values PLC, an independent U.K. listed investment trust, a spokesman said.
A new pricing structure being adopted Sept. 1 cuts the fee for the first £700 million of net assets under management. The remaining £20 million will see a fee reduction to 0.775%.
In addition, Fidelity will trim its fixed annual administration fee, which excludes portfolio management, to £100,000 from £600,000.
"Based on the current size of the company, this is equivalent to an overall reduction of approximately 9.5 basis points and will represent a useful saving for shareholders," Andy Irvine, chairman of Fidelity Special Values PLC, said in a news release.
The move follows other changes to the fee structure that Fidelity announced in October 2017 and has been implementing since. Last month the firm cut net expense ratio on Freedom Index Funds institutional premium class to 8 basis points from 10 points.
