Fee rise for investment trust holders

For instance, while Barclays Stockbrokers' 0.35pc fee on ordinary funds is competitive, buying an investment trust within an Isa costs £36 a year.

Bestinvest, which has around 50,000 customers, will charge savers 0.4pc across every type of investment.

This is unusual and may look fairer, but it is only cheaper for investors with small pots of money.

Calculations by Justin Modray of Candid Financial Advice showed that an investor with £100,000 split equally between investment trusts and shares would previously have paid around £60 a year. From March the same investor can expect to pay £400.

Dealing fees on shares, of £7.50 a trade, will also apply.

Mr Modray said the lack of a cap on Bestinvest's total charges was an issue. By contrast, Hargreaves Lansdown, Britain's biggest fund supermarket, charges 0.45pc for both shares and investment trusts. But the key difference is that charges are capped at £45 a year on each type of asset. Therefore under the same scenario savers would pay £90 a year.

A spokesman for Bestinvest said its average customer held just 15pc in investment trusts and shares, with the vast majority in funds - so the majority would be better off.

He said: "In extreme cases where customers are much worse off under our new prices we will look to give the customer a special deal to bring the cost down."

Charles Stanley Direct and Cavendish Online both charge 0.25pc a year, making them particularly cheap for investors with less capital who hold only ordinary funds.

• More fund news and ideas: bookmark telegraph.co.uk/investing

• Investment tips every week by email – sign up here

more