MAM Funds launches new share class for UK RDR
MAM Funds will launch a new non-trail commission share class across its range of funds, as part of its UK Retail Distribution Review (RDR) preparations.
The 1% non-trail, ‘N’ share class will be launched by MAM Fund, which comprises the Miton, Acuim, and Midas brands, for the group’s range of UCITS funds from mid-March.
Institutional share classes are also being added to the CF Midas Balanced Growth and CF Midas Balanced Income Funds. The blanket dilution levy which currently exists on these two funds will be removed.The existing retail share class will continue for legacy business
Neil Bridge, head of Business Development, MAM Funds plc said: “These are important changes as we prepare for the introduction of the Retail Distribution Review, and provide investors and distributors with new options to access our funds post RDR implementation.
“We have also taken the opportunity with the introduction of the new share classes to add an institutional share class to both our Midas funds and remove the blanket dilution levy from these funds to ensure consistency across the MAM fund range.”