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Last updated 7 hours ago
Oct 24 2011 | 10:29am ET
Schroders will launch a Z share class for its UK-domiciled funds, which will carry a management charge but no fees for platforms or adviser rebates
James Rainbow, head of UK marketing at Schroders, told Citywire the firm is “responding to demand with a clean-fee class.” The new policy will apply to all UK-domiciled funds with the exception of a few, mostly those that have been soft closed like the Schroder US Mid Cap fund run by Jenny Jones.
Z share charges will be roughly half those of existing share classes. The share class has been implemented for some funds already, and the firm expects to cover the entire UK range by November 8.
Rainbow told Citywire the new fee structure allows the funds to comply with certain platforms, such as Cofunds, which will have an unbundled price structure, while other platforms—like Skandia and Fidelity—can continue to use existing share classes.