Invesco Perpetual launches commission free share classes

Invesco Perpetual is to launch commission free share classes across its range by mid-2012, but will continue to pay a platform rebate.

The move, a key requirement of RDR, means no initial or trail commission will be paid to advisers using the share classes. Invesco Perpetual said the group introduced the share classes back in May 2007 providing "commercial and operational flexibility" to advisers. The AMC will be reduced from 1.5% to 1% on the commission free share classes, in a move which sets it apart from Schroders, as Invesco's share classes will still pay platform rebates. On 8 November Schroders launched a range of 'Z' share classes which do not pay commission of rebates. Platforms will then be able to add t...