Rathbones launches RDR share classes
Rathbone Unit Trust Management is to launch clean fee share classes across its fund range from March.
The move will see the removal of a 0.5 per cent trail commission and 0.25 platform fee, currently included in the 1.5 per cent annual management
According to Rathbones, the launch of the new share classes will accommodate changing intermediary business models ahead of the implementation of the RDR.
Rathbone blue chip income and growth, Rathbone global opportunities, Rathbone income, Rathbone recovery, Rathbone enhanced growth portfolio, Rathbone strategic growth portfolio, and Rathbone total return portfolio funds will each carry a 0.75 per cent AMC with no initial charge in the new share class. The Rathbone ethical bond fund will carry a 0.625 per cent AMC with no initial charge.
Although a minimum investment level of £1m for intermediaries wishing to deal in the new share classes is required, this will be waived for those investing through principal platforms.
Rathbone Unit Trust Management chief executive Mike Webb says: “The introduction of ‘clean’ ‘i-class’ units/shares means that advisers can continue to consider our funds whilst being fully compliant to the new legislation that will govern them.
“We will do all that we can to ensure our business remains competitive in a post-RDR environment and to offer intermediaries whatever support they need as they adapt their business models in the coming months.”