(Bloomberg Gadfly) -- Recent moves by a handful of fundmanagers to offer performance-based fees are a welcome development.Hopefully, others will embrace the trend.
But the new fee structures need to be designed to ensureportfolio managers have enough skin in the game to be truly in syncwith the interests of those whose money theysteward.
Fidelity International (the international arm of FidelityInvestments until becoming independent of its U.S. parent in 1980)provided a diagram of its new fee structure this week, withoutspecifying actual levies.
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