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Investec launches lower share class

Investec Asset Management has launched a lower cost share class available to selected distribution partners.

The new annual management charge of 0.65 per cent will be available on a number of Investec’s funds in its Managed Solutions and Specialist fund ranges. The AMC on unaffected funds and for those firms who have not secured preferential terms will remain at 0.75 per cent.

Within the Managed Solutions range, the lower share class will be available on the £2.7bn Investec Cautious Managed fund, the £95m Investec Diversified Growth fund and the £86m Investec Diversified Income fund.

Within the Specialist fund range, the lower share class will be available on the £1bn Investec UK Special Situations fund, the £166m Investec Enhanced Natural Resources fund and the £30m Investec Emerging Markets Blended Debt fund.

A number of platforms have said they will seek lower priced funds from fund groups. Standard Life Wrap is expected to announce this week the terms it has agreed with 15 fund managers.

The JHC Partnership director Keith Iles says: “It has taken the industry an age to get to this level of transparency. We do not do ourselves any favours.”

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