Cofunds is to launch a new pricing model with approximately 1,700 ‘clean’ share classes from 85 fund groups.
The unbundled model, which it had first announced about a year ago, is due to launch in September.
Britain’s retail distribution review (RDR), which is scheduled for implementation at the end of this year, means commission can no longer be paid from retail investment funds.
Several asset managers have started offering RDR-ready share classes in the last couple of months.
These are ‘clean’ in terms of commission and platform administration charges.
Alastair Conway, sales and marketing director at Cofunds, said: “For some fund groups the move to a clean share class has simply involved repurposing their institutional share class, even so for all, it has demonstrated a real support for simple, transparent charging and that’s got to be good for end investors.”
©2012 funds europe
