From the middle of next month, GLG Partners is to make its professional share classes available to UK retail investors through third-party platforms.
The firm will also add a professional share class to its UK-domiciled GLG Balanced Managed and GLG Stockmarket Managed funds that currently have carry retail share classes only.
The typical annual management charge will typically be 0.75% for equity funds and the new-look structure will be available across 11 UK-domiciled funds.
Retail investors investing into any of its Ireland and Luxembourg-domiciled Ucits funds sold into the UK will have access to its institutional share class. Again these will be available on third-party platforms, from 1 January 2013, the same day as RDR itself is implemented.
Aberdeen Asset Management has added the details of plans announced in August to offer a share class in a range of between 0.25% for its £130m Aberdeen Cash Fund to 1% for its ‘premium’ offerings such as the $13bn Aberdeen Global Emerging Markets Fund.
The arrangement, that covers both UK (32 in total) and Luxembourg(69)-domiciled funds, will offer a flat annual management charge on an individual fund’s “unbundled” share class and will exclude any commission payments or platform fee rebates.
