Comment: share classes and other considerations

In June, the Financial Services Authority (FSA) issued a consultation paper (CP12/12) proposing that cash rebates and fund manager-to-platform payments should be banned from 31 December 2013. Even before this, it was becoming fairly clear that the general direction of travel in the industry was for fund managers to offer unbundled or rebate-free share classes. However, the transition from bundled to unbundled is a process that may take some time. In the interim, I would argue that, while it may be possible to have a considered preference for so-called ‘clean’ share classes, care still ne...