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Cazenove is aiming for IFAs with new cash deal

Cazenove Fund Management is to target the IFA market by introducing a new share class on its Oeics paying both initial and trail commission.

The new share class has been added to each of its Oeic sub-funds paying initial commission of 3 per cent and renewal of 0.5 per cent.

All funds will have an initial charge of 3.5 per cent while the annual charge will be 1.5 per cent for equity funds, and 1 per cent for fixed-interest funds.

The move will open up more than a dozen funds for commission-based IFAs across the world&#39s major equity and fixed-interest markets.

Cazenove is also launching a new Isa and Pep transfer wrapper for its high-income fund, which will be renamed the Cazenove UK corporate bond fund.

Managing director Robin Minter-Kemp says the firm is now working on new projects for the IFA market, including the introduction of a range of retail multi-manager services.

He says: “We believe distribution ownership will change significantly after depolarisation. Cazenove will structure its business to meet investors&#39 needs by offering in-house and multi-manager products via IFAs.”

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