The announcement covers the pricing of the firm’s pooled funds range and will be fully available by the end of August. Three of the multi-manager funds are expected to be made available sooner.
The funds will offer a totally clean share class by which they will be non-commission paying, following the pattern of most of its existing institutional share classes.
Smith & Williamson IM has 14 FSA-regulated pooled funds distributed via intermediaries with the annual management charges dependent on the asset class. Core equity funds will have an AMC of 75 basis points; within the specialist equity fund range, the UK long/short equity Enterprise Fund is priced at 90bps, with the AMC for the Global Gold & Resources Fund at 100bps from the end of August.
The multi-manager funds will have an AMC of 75bps except for the Cautious Growth Fund with a 70bps charge.
All the fixed interest funds will be priced at a 65bps.
Nick Hodgson, director of marketing and sales at Smith & Williamson IM, commented: “While the final rules for the RDR are still awaited by the industry, we are quite sure that the spirit of the RDR is for the funds industry to make totally ‘clean’ share classes available. We recognise that time is of the essence as platforms are finalising their systems ahead of the implementation of the RDR in January 2013.”
