The cost of investing is falling. Ten years ago, if you had wanted to invest in a fund tracking the UK stock market, it would have cost you 1% of the value of your investment every year. Today, you can invest in a similar fund for not much more than a 20th of that: Fidelity has cut the cost of its UK tracker to 0.07%.
But it isn’t just in the world of trackers that we are seeing huge progress. Many investment trusts have cut their management fees in the last year: neither directors nor investors consider a fee [...]
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