Investec launches RDR-ready share classes

cutting the ribbonInvestec Asset Management has developed share classes to make its fund range ready for the Financial Services Authority’s retail distribution review (RDR). The asset manager now offers a share class with a 0.75% annual management charge, which will be available to platforms and advisers for the funds within its recently launched Managed Solutions Range. This will also apply to its specialist fund range. Linda Woodall, the head of investments department at the authority, said 69% of firms had developed and begun to implement a plan to be RDR compliant across all the requirements. Meanwhile, she added, 71% of advisers were already qualified with an appropriate qualification, with a further 22% studying for it. “Change can be unsettling and adds even more pressure,” she Woodall said. “But both the RDR and regulatory reform give us all huge opportunities to do things better.” ©2012 funds europe

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