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Wells Fargo launches RDR-friendly share classes
by Isabella Nimmo on Nov 14, 2012 at 14:05
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
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