Guinness Asset Management has launched a new share class across its fund range, becoming the latest firm to gear up for RDR with the launch of a ‘clean fee' structure.
The boutique has introduced an ‘X' share class with a 0.75% AMC and no rebate or trail, available across its seven-strong fund range that includes the $325m Global Energy fund and the £10m Global Equity Income fund.
The share classes will launch shortly on intermediary and consumer platforms, with a short-term offer enabling investors to buy into the share class directly if they have a minimum investment of £5,000.
"We always seek to embrace innovation in the way we develop our products, and to price fairly. With the introduction of ‘clean fee' share classes we are looking ahead to a post RDR world and assisting platforms and advisers wishing to clarify their position on fees," said CEO Tim Guinness.
"Today, we have FUM of £500m and we don't see why £2bn in 5 years should be out of reach."
Fund groups including Schroders, Jupiter and Rathbones are among those to have announced the launch of similar ‘clean fee' 0.75% share classes ahead of the implementation of the retail distribution review at the start of 2013.
Industry Voice: Scottish Widows pension expert Robert Cochran and economist Andrew Scott discuss the future of employment and income, in episode three of Scottish Widows' podcast series.
What made financial headlines over the weekend?
Follows McVey's resignation
Schroders and Aviva Investors