U.K.’s Invesco Perpetual will roll out commission-free share categories across its entire range by the middle of next year but will still pay a platform rebate, Investment Week reports. This implies that advisers utilizing these share classes will not receive any initial or trail commission. The launch of these share classes is a move towards meeting the requirements of the Retail Distribution Review.
The independent investment manager had launched no-trail share classes in May 2007 but is now extending them across its entire range, adds Citywire. The AMC will be cut from 1.5 percent to 1 percent on the commission-free share classes.
Click here for the story from Investment Week.
Click here for additional coverage from Citywire.
Citywire Invesco Invesco Perpetual AMC U.K.