Rathbones to launch RDR-ready share classes on 1 March

Rathbone Unit Trust Management is to launch RDR-ready 'institutional' share classes across its fund range from 1 March.

As reported by Investment Week, IFAonline's sister title, in November, the group's new 'i-class' units/shares remove the 0.5% trail commission and the 0.25% platform fee currently included in the annual management charge (AMC).

This means most funds' AMC will be 0.75% with no initial charge.

Rathbones said the changes accommodate changing intermediary business models ahead of RDR implementation next year.

The group has a range of well-known funds including Carl Stick's £432m Rathbone Income fund.

While the AMC on most funds in i-class will be 0.75%, Rathbones lower cost Ethical Bond fund - which has an AMC of 1.25% and is run by Bryn Jones - would be charged at 0.625%.

Its Strategic Bond fund already has an institutional share class priced at 0.5% and is unaffected by the changes.