River and Mercantile, the long-only specialist boutique, has joined a host of larger fund groups launching low-cost share classes ahead of RDR after unveiling shares with commission stripped out.
The firm has added ‘b' share classes with an AMC of 0.75% across most of the fund range, down from 1.5%. The UK Long-term Recovery, Global Opportunities and Unconstrained funds will have AMCs of 1%, down from the current level of 1.75%. Managing director of wholesale at River and Mercantile, Mark Thomas, said: "RDR is the biggest change to our market and although I do not think anybody has all the answers we, as a boutique, are well-placed to benefit." The group already has ‘a' share classes designed for the retail market charging the standard fees, which the 'b' share classes wou...
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