abrdn closes platform share classes of UK authorised fund range

Mandatory conversions

abrdn is set to close the platform share classes of its UK authorised fund range in a move the firm said aims to “deliver better customer outcomes”.

The asset manager will close Platform 1, Platform P Fixed, and Class M share classes, converting holders to the institutional share class, implemented across four tranches in November this year. This change will provide investors with a lower or comparable ongoing charge figure, abrdn said, as the institutional share class does not incur a platform dealing charge. abrdn reduces platform fees and simplifies charging structure Anyone still invested in the platform share class on the closure date will have their investment automatically switched to the institutional share class withou...