Henderson Global Investors has scrapped plans for the creation of preferential share classes in order to offer intermediaries a "level playing field".
Standard Life originally confirmed Henderson as one of seven fund managers that had agreed to create discounted ‘super clean' share classes.
The current list of participating fund groups, published by the wrap today, revealed that Henderson has since decided to scrap plans for the creation of a new preferential share class.
Henderson Global Investors managing director for distribution Stewart Cazier says the decision was made to avoid creating problems for intermediaries who use more than one platform.
He said: "It is not our policy to comment on specific negotiations with distributors. However, it is important to state that in agreeing terms with platforms, we have decided to only offer one clean share class across UK advisory platforms as we believe we need to offer the intermediaries who use a variety of platforms, a level playing field."
Standard Life head of investment group relations Graham Dow says the decision will inevitably lead to higher costs for Standard Life customers purchasing Henderson funds.
He said: "Every fund group has had to go through a huge cycle of different decision making processes. The vast majority have bought into the idea that the terms they have offered Standard Life customers in the past should continue in a slightly different structure.
"Henderson Global Investors communicated to me that they did not feel they wanted to go down this route. They were comfortable that the impact of their decision meant that the price of their funds for Standard Life customers would increase. We have to respect that decision and we have to respect people's opinion on that decision as well."
Henderson posted record profits for 2013 following a return to positive UK retail flows. Pre-tax profits of £190.1m for 2013 were helped by overall net inflows of £2.5bn.
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