MAM Funds is introducing a non-trail commission share class across its fund range ahead of the Retail Distribution Review.
The 1% non-trail ‘N’ share class comes into effect for the UCITs fund range this month, which includes Miton, Acuim, and Midas branded funds.
Martin Gray’s CF Miton Arcturus fund, a non-UCITs fund, will instead have a lower annual management charge of 0.75% and will continue to operate a performance fee.
MAM will also add institutional share classes to the CF Midas Balanced Growth and CF Midas Balanced Income funds, and will remove the blanket dilution levy on both funds.
The existing retail share class will continue for legacy business, while the new non-trail share class will be available for use with platforms and through direct business post-RDR.
Neil Bridge (pictured), head of business development, said: “These are important changes as we prepare for the introduction of the Retail Distribution Review, and provide investors and distributors with new options to access our funds post-RDR implementation.
“We have also taken the opportunity with the introduction of the new share classes to add an institutional share class to both our Midas funds and remove the blanket dilution levy from these funds to ensure consistency across the MAM fund range.”
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