Legg Mason launches clean share classes for RDR
The asset management firm will roll out a 0.75 per cent share class next month in preparation for RDR.
Legg Mason Global Asset Management will add a clean share class to all of its 11 funds from next month ahead of the RDR.
The new share classes will carry an annual management charge (AMC) of 0.75 per cent for a typical equity fund.
Adam Gent, head of UK sales at Legg Mason, said: “We have been working hard behind the scenes to ensure that we have an RDR-ready solution that is right for our clients.
“Following a thorough assessment of the business and significant feedback from clients, we’re now in a position to confirm our plans, namely the addition of share class X.
“We believe we continue to offer a competitive entry point for advisers wishing to access our products.”