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Base fees for fiduciary management saw an increase for smaller funds in 2023 and have stabilised for larger funds, after a reduction between 2018 and 2022, a new survey of FM providers has found.
Base fees decreased by 2% to 7% per year between 2018 and 2022, but this trend is coming to an end, the latest survey by FM evaluator firm IC Select suggests.
Investment fees fell by over 50% in the past five years, with more than 70% of this reduction happening the last two years because of increased market volatility, the report by IC Select also says, meaning median total fees have decreased by 40% since 2018.
“Our findings indicate that the quoted fees in fiduciary management are often negotiable,” said Peter Dorward, managing director at IC Select.
“However, tracking trends in these fees provide valuable insights into the direction of costs over time and across factors such as fund size and investment return objectives.”
