Rathbone Unit Trust Management is to launch RDR-ready 'institutional' share classes across its fund range from 1 March.
As reported by Investment Week in November, the group's new 'i-class' units/shares remove the 0.5% trail commission and the 0.25% platform fee currently included in the annual management charge (AMC). This means most funds' AMC will be 0.75% with no initial charge. Rathbones said the changes accommodate changing intermediary business models ahead of RDR implementation next year. The group has a range of well-known funds including Carl Stick's £432m Rathbone Income fund. While the AMC on most funds in i-class will be 0.75%, Rathbones lower cost Ethical Bond fund - which has an AM...
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