Guinness AM joins 'clean fee' club
From Product News Feb 21 2012 BY: Esther Armstrong
, Senior Reporter
, Portfolio Adviser
Boutique fund manager Guinness Asset Management has launched a new "RDR ready" clean fee share class across its seven funds, with an AMC of 0.75%.
The 'X' share class will be available across all its funds and isdes igned to allow platforms to unbundle their charges and to help
advisers in their fee negotiations, Guiness said.
The share classes will be available shortly on intermediary platforms, including Transact, Ascentric, Nucleus, Raymond James and Cofunds
Institutional.
Direct consumer platforms such as Interactive Investor will also be able to offer the share class and direct investors to Guiness AM will be
allowed to buy into under a short-term offer with a minimum investment of £5,000.
Its fund range currently includes seven funds available to UK investors:
Guinness Global Equity Income Fund; Guinness Global Energy Fund; Guinness Alternative Energy Fund; Guinness China & Hong Kong Fund;
Guinness Asia Focus Fund; Guinness Global Thematic Equity Fund; andGuinness Global Money Managers Fund.
Five of these funds were launched in 2010 to complement the existing energy funds and the two Asian funds mirror those which were already distributed in the US via Guiness Atkinson Asset Managment, the firm's sister company.
Tim Guiness, CEO of the firm, said: "We always seek to embrace innovation in the way we develop our products, and to price fairly. With
the introduction of clean fee share classes we are looking ahead to a post-RDR world and assisting platforms and advisers wishing to clarify
their position on fees."