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What are share classes?

Fund providers may offer more than one type of the same fund. These are known as share classes. You can often tell these different versions by a single letter included in the fund name, or sometimes with something more descriptive, for example 'accumulation' or 'income'.

Each class will invest in the same portfolio and will have the same objectives, but may have different fees and charges decided by the fund manager, or they may have different purposes.

Some examples of different share classes are:

Bundled/Clean

If a fund is bundled, all of its charges are added together and given as an one ongoing charge percentage. None of the funds on the Fidelity platform are available as bundled. Charges on a clean fund are separated to show exactly what you pay for and do not include trail commission for financial advisers, fund supermarkets or brokers. This means they're usually cheaper than the bundled equivalent. To identify the difference between these funds, you can view and compare the charges on each factsheet.

Super Clean

Some funds can have a super clean version and have even lower costs compared to the clean version. There can be a number of reasons why this is the case. To find out more about a specific super clean fund, please speak to the respective fund provider. To identify super clean funds, you can view the charges on the factsheet and compare these to the clean equivalent.

Income/Accumulation

Income funds may distribute dividend income from the fund directly to you on a regular basis. You can choose to receive this directly into your bank account or have it reinvested into the fund as units. Accumulation funds are designed for growth, so any dividends will be reinvested into the fund as units. To identify these, income funds end with with INC and accumulation funds end with ACC.