Fund fees: investors 'misled' by 'shocking malpractice' of omitting performance charges However, Hargreaves Lansdown shows the TER as 1.74pc in its online fund factsheets, as does Fidelity FundsNetwork. Ben Yearsley, investment manager at Hargreaves Lansdown, said: "The TER figures come straight from the fund manager - it isn't something we calculate." Cofunds also shows the BlackRock fund as having a TER of 1.74pc. Russell Lancaster, the platform's head of commercial, said that in this case the onus was on BlackRock to provide the correct TER. He said: "Clearly there is a performance fee. Clearly the TER is net of the performance fee. But the TER is provided by the fund manager. Another example is James Hanbury's CF Odey UK Absolute Return fund, which is on Hargreaves Lansdown with a TER of 1.47pc. The TER for the retail share class on the fund is actually 5.39pc - more than 3.7 times more. The higher figure is quoted by Morningstar and Odey. David Stewart, the head of Odey Asset Management, said the group provided the TER both inclusive and exclusive of the performance fee. He said it was up to the fund supermarkets and platforms which they showed. As long as people understand they are charged a 20pc performance fee, it is clear. We provide that," he said. Alan Miller, founder of SCM Private, called not including performance fees in TERs "shocking malpractice."