Gerrard is looking to Oeic two of its funds in the fourth quarter in order to offer both institution...
Gerrard is looking to Oeic two of its funds in the fourth quarter in order to offer both institutional and retail share classes, writes Robert Stock.
The Gerrard Ethical fund, managed by Fiona Orford-Williams, and the Gerrard Pooled Pension fund will be the only funds to undergo the process because both appeal to institutional and retail investors.
The Oeicing would be scheduled for October to coincide with the funds' accounting dates. However, there remains a large amount of work being undertaken to complete the merger process between Capel Cure Sharp and Grieg Middleton, the two firms from which Gerrard was created, which could still disrupt the plan.
It is unlikely that the charges on the Ethical fund will be altered for retail investors from the current 5% initial charge, of which 3% is rebateable advisor commission and 1.5% annual management charge.
There will, however, be a change in the pricing of the Pooled Pension fund, which was set up with a 7% initial charge and annual management fee of 0.3%. The differentiated share classes are likely, Investment Week understands, to bring down the cost for retail investors.
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