The fees applied to certain financial products, which greatly affect performance, will finally be reduced, but not for three years.
Funds: movement commissions soon to be banned | Photo credit: Getty images
Good news for savers! From 1er January 2026, movement commissions will finally be prohibited for funds governed by French law. A decree published on May 19 puts an end to these fees which were applied by certain managers, on UCITS and alternative funds (AIF), when they buy or sell a security.
Double dose of fresh
It was about time, because these movement commissions, strangely, are added to the transaction costs, which weighs “ a double burden for savers “, denounced last October the senators Jean-François Husson and Albéric de Montgolfier, who precisely pleaded for their prohibition. In a cobblestone report presented to the press, they established that the total fees applied to an index fund could cut off up to half of its performance! The senators had carried out simulations for a product composed of 40% equities, 30% bonds and 30% diversified funds. ” We have taken an example sufficiently telling to an average French person, who would place 5,000 euros in initial payment then 100 euros per monthdetailed Jean-François Husson. After 40 years, 55% of the valuation is captured by the costs! “.
The prohibition of movement commissions should therefore lighten the bill a little and restore a little more performance to the products. It will still be necessary to wait another three years to see this French specificity finally disappear, “ to enable management companies to adapt their system “, explains the AMF.