BNY Mellon Asset Management has announced details of its new fully unbundled share class for UK investors, ahead of the implementation of RDR.
The group is launching a clean share class for ‘advised’ investments only, which are made through third party platforms.
From September the clean fee share class will be offered on all BNY Mellon Funds domiciled in the UK, including those offered by its boutique Newton.
Iain Stewart’s Newton Real Return and Jason Pidcock’s Newton Asian Income are among those sought-after funds that will now offer the unbundled share class.
Scott Goodsir, managing director, head of UK wholesale, said: “By making this new share class available ahead of the RDR deadline, we are aiming to support the early transition to the new charging arrangements.”
Other fund houses to have announced similar initiatives include Henderson, Schroders, Cazenove, Rathbones and Fidelity.