Zero front-end offering

Henderson Investors is introducing a share class into its Oeic structure which features no front-end charge. The so-called X Share class will still pay 3% commission to IFAs but not from the client's funds. Hendersons will be able to afford to pay the 3% by charging investors a 0.5% higher annual management fee than the conventional fee structure of the conventional retail or Class A shares. In addition X-share investors will be penalised on a declining scale for the first six years. During the first two years an investor wanting to redeem an investment will be charged 4%, in the third ye...