Axa has added 1,000 new clean share class funds to its Elevate platform.
The move takes the total number of clean share classes to 1,690. There is now a total of 3,900 funds available on Elevate.
Axa says the move has been driven by advisers wanting to transition clients into clean share classes in preparation for a cash rebate ban due to be implemented in 2014.
Axa Wealth managing director David Thompson says: “We are determined to operate a transparent charging model which makes very clear to the customer what we are charging. Clean share classes are the most transparent way of doing this and that is why we are embracing this development.”
A recent Money Marketing study revealed a wide difference in the numbers of clean share classes available through platforms.