Wells Fargo launches RDR-friendly share classes

Wells Fargo is getting into shape for the retail distribution review (RDR) by launching clean share classes across its fund range.

The asset management subsidiary of the San Francisco-based bank has recently embarked on big push into the UK.

The new Z class shares, which have been available in Luxembourg since 31 October, carry an advisory fee that will range from 0.75% to 1.20% for equity funds and 0.50% to 0.65% for fixed income funds.

Commenting on the new class shares, the firm's vice president Andrew Owen said: ‘We are very familiar with working within highly regulated markets that aim to protect investors, so it’s part of our business culture To remain flexible and to meet the ever-changing demands of local markets.

'The RDR offers many positives and the Class Z shares will ensure we remain as transparent as possible.’

The shares will be available in both dollar and sterling denominations for the following sub-funds of Wells Fargo’s Worldwide umbrella structure:

* China Equity

* Emerging Markets Equity II

* Emerging Markets Income and Growth

* Global Equity