Norwegian fund manager Skagen has unveiled new RDR-compliant clean share classes for three of its Kon-Tiki, Global and Vekst equity funds in the UK.
The new B-share class, which came into effect on 1 January 2014, is open to investors who subscribe units through distributors in the UK including Transact and Raymond James.
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Additionally, the annual management charge has been reduced from 1% to 0.8% on the Global and Vekst funds, and from 2% to 1.5% on the Kon-Tiki fund.
The new share classes will also comply with regulatory changes following the implementation of RDR where investment managers must make available clean share classes.
Tim Gordon, client relations, Skagen Funds, said: "We are delighted to have launched the new clean share classes, which underline Skagen’s commitment to the UK market. Combined with our strong investment performance and high level of client service, we believe this provides a strong proposition as we look to further develop our UK wholesale presence."
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