Alliance Trust Savings has committed to moving all of its legacy platform business into clean share class funds by the end of 2013.
Since January, ATS has only allowed new clients to invest in clean share classes and says it will convert all business across both direct and advised channels into clean funds by the end of the year.
ATS did not disclose the size of its legacy book.
The Platforum figures show ATS had an estimated £4.05bn of assets under administration at the end of 2012, of which £3.65bn was direct business.
Last month, HM Revenue & Customs ruled platform rebates will be taxed from 6 April, prompting all platforms to look increasingly at clean share classes.
ATS managing director Patrick Mill says: “We have always been committed to moving to clean share classes, believing they are the most transparent way for consumers to pay for their investments.
“We firmly believe that what is required is a level playing field with regard to annual management charges for funds. There should be a single approach to keep things simple that is easy to understand: in essence, clean should mean clean.”
The Lang Cat principal Mark Polson says: “ATS has always been at the forefront of calling for a clean share-class world and if the FCA moves to ban all legacy payments from 2016 then all platforms will have to do this eventually anyway.
“The majority of ATS business is direct at the moment and a lot of that will be in bundled share classes, so there is a significant amount to be moved into clean funds.”