Schroders to launch RDR-ready share classes in November

Schroders is to launch a range of Z share classes across its UK fund range next month which do not pay trail commission.

In a move which will prepare the group for the post RDR-world, Schroders said it would be launching share classes with adviser commission stripped out. The changes will affect its entire range of UK-domiciled unit trusts and mean the fund range - which typically has an AMC of 1.5% - will now offer a share class with a 0.75% AMC. Platforms will then be able to add their own charges on top so investors can see a break down of what they are paying. James Rainbow, head of UK marketing at Schroders, said: "The key with the change is that advisers who want to operate on a fee-based model...