Guinness launches 'clean fee' share class across fund range

Guinness Asset Management has launched a new share class across its fund range, becoming the latest firm to gear up for RDR with the launch of a ‘clean fee’ structure.

The boutique has introduced an ‘X' share class with a 0.75% AMC and no rebate or trail, available across its seven-strong fund range that includes the $325m Global Energy fund and the £10m Global Equity Income fund.

The share classes will launch shortly on intermediary and consumer platforms, with a short-term offer enabling investors to buy into the share class directly if they have a minimum investment of £5,000.

"We always seek to embrace innovation in the way we develop our products, and to price fairly. With the introduction of ‘clean fee' share classes we are looking ahead to a post RDR world and assisting platforms and advisers wishing to clarify their position on fees," said CEO Tim Guinness.

"Today, we have FUM of £500m and we don't see why £2bn in 5 years should be out of reach."

Fund groups including Schroders, Jupiter and Rathbones are among those to have announced the launch of similar ‘clean fee' 0.75% share classes ahead of the implementation of the retail distribution review at the start of 2013.