Innovations in retail fund fees

Friday 22 November 2019

This paper describes and evaluates the nature, attributes and likely future development of Retail Fund Fees in the UK in response to competition and regulation. The scope is limited to retail investment funds domiciled in the UK, that is Open-Ended Investment Companies (“OEIC”) and unit trusts, which are covered by new assessment of value regulation. However, evidence from UK Investment Trusts and US retail funds is referenced to help identify attributes and trends. It should be noted that although the scope is limited to retail funds many of the principles and findings may also be applied to institutional mandates. 

The purpose of the paper is to provide information that might be helpful to members, investment managers, fund selectors and independent non-executive directors of fund boards in developing and evaluating fee structures.



Members of the CFA UK Fee Structures Working Group: Keith Bonin, CFA (Chair); Andy Burton; Sejuty Chowdhury, CFA; Pavel Fedorov, CFA; Jonathan Francis, CFA; Claire Gallagher, CFA; Ludmila Nola, CFA



Read the full research paper