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Brooks Macdonald Funds rolls out RDR share classes
by Annabelle Williams on Dec 10, 2012 at 12:06
Brooks Macdonald Funds (BMF) has launched clean retail distribution review ready share classes across its product suite.
The annual management charge on the A share class will be priced at 0.75% for funds within the Brooks Macdonald Oeic – which includes three funds of funds and the popular Defensive Capital fund that recently hit the £100 million mark.
The Defensive Income fund which will see its distribution frequency changed to quarterly from every six months, a move Simon Wombwell, chief executive officer of BMF, said was in response to investor demand.
Initial charges on all the funds under the Oeic have also been removed.
The changes are effective 10 December, ahead of the retail distribution review (RDR) implementation on 1 January.
‘This clear and simple charging structure illustrates our commitment to existing investors, and offers new investors competitive and transparent charging, making our funds an attractive investment option for clients post RDR,’ Wombwell said.
Since 2011 BMF has continued to pay all the fixed costs of the three fund of funds, therefore the only charges applicable to investors are the AMC and the cost of the underlying portfolio of funds.
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