In a market which constantly seems to be pushing price down, there are nonetheless a few providers which continue to charge top dollar for their trackers, seemingly ignoring the rise of low-cost providers such as Vanguard and the like.

Vanguard and new rivals such as Fidelity Worldwide Investment have reduced the cost of investing in vanilla trackers such as UK equity index funds to as little as 8bps, but on the other side of the spectrum there remain a number of UK equity index trackers which charge in excess of 1%.

Adam Laird, passive investment manager at Hargreaves Lansdown, said: “There are billions of pounds invested in high cost tracker funds when lower cost alternatives are available. Annual charges are generally the biggest detractor of value in a tracker fund and over the long term even a small reduction in fees can make a substantial difference in returns.

“When all major sectors are covered by tracker funds with fees under 0.25%, there are few reasons to stay invested in a fund with charges over 1%. Most major tracker fund groups have cut prices so far in 2014 and it is wise for any tracker fund investor to review their choices.”

Of course price is just one element, with investors also needing to consider what index is being replicated by a tracker, and how.

But price remains a key concern, with some trackers over ten times as expensive as competitors.

Below, Investment Week reveals the five most expensive UK trackers, based on data provided by Hargreaves Lansdown.

(L&G also offers a post-RDR Class I unit for new investments for 0.31%, and an exclusive HL share class with an OCF of 0.2%)