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Standard Life agrees preferential terms with Old Mutual

Standard Life has secured its latest preferential share class deal with Old Mutual Global Investors.

The company announced last month the first group of managers with whom it had agreed terms. These were: Henderson, Investec Asset Management, Neptune, Schroders(including Cazenove funds), Standard Life Investments and Threadneedle Investments.

Standard currently receives a 55 per cent rebate on OMGI annual management charges. The new terms will see rebate-free clean shares on the platform, but the commercial terms received by investors will offer an equivalent saving. 

OMGI has agreed to offer the full fund range on clean pricing, although not all the fund managers that have agreed preferential terms with Standard have committed their full fund range.

Standard Life head of investment group relations Graham Dow says: We are delighted Old Mutual has agreed terms with us. This is another important landmark in our move toward clean share pricing and transparency.

”We have taken the view that clean and transparent share classes are in the best interests of everyone, particularly our clients and we continue to work toward that.”

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