Nordnet Reduces Index Fund Fees
Nordnet is lowering its platform fee for index funds by approximately one-third, from 0.3% to 0.19%, effective April 1, 2022. The move follows increased market competition and customer feedback.
Digital bank Nordnet announced it will reduce its platform fees for index funds by approximately one-third, from 0.3% to 0.19%. The change, effective April 1, 2022, also introduces a 0.10% management fee for Nordnet Index Fund Technology and Emerging Markets.
The company cited increased competition and customer feedback as reasons for the price adjustment. Anders Skar, head of Nordnet Norway, stated that the goal is to offer the best savings and investment platform at competitive prices. "Competitive prices are of course an important component of this," Skar said.
Nordnet is also removing its tiered fee structure, which previously offered lower fees for customers with larger fund holdings. The company acknowledges this may result in higher fees for some large investors but maintains that the overall impact benefits the majority of customers due to the index fund fee reduction.
The new pricing applies to all Nordnet account types and products across its markets and takes effect on April 1, 2022. Other fund categories also see adjustments, with fees for money market funds decreasing and fees for bond funds and high-yield funds increasing.