M&G Investments has confirmed that it will roll out two types of RDR-ready share classes, including one completely ‘clean fee’ class and one including platform payments.
The fund manager has written to platforms to announce it will extend its institutional I share class that carries typical annual management charges (AMCs) of 0.75 per cent and no bundled adviser rebate or platform payment to retail investors. The group is also launching new R share classes that carry 1 per cent AMCs which include a bundled 0.25 per cent payment for platforms.
The launch of both types of RDR-ready share class caters for platforms such as Skandia and Fidelity FundsNetwork, which would prefer to receive bundled payments, and those such as Cofunds which want to go completely unbundled.
M&G is only the second group to launch a 1 per cent AMC share class, following on from Invesco Perpetual which launched their 1 per cent annual management charge RDR share class last year.
Source: FTAdviser. Read full article here.
