Funds

HM Revenue & Customs's (HMRC's) decision to tax unit and cash rebates could violate UK case law on competition, according to a platform consultancy.

J.P. Morgan (JPM) Asset Management is adding to its 21 strong range of investment companies with the launch of a Global Convertibles Income trust.

Skandia is to add clean share classes to its platform following HM Revenue & Customs' decision that rebates to customers are taxable.

J.P. Morgan Asset Management has named Simon Crinage as the new head of its investment trust business, following the departure of David Barron earlier this year.

Transact has criticised fund managers for failing to allow advisers to move large holdings from bundled to clean share classes.

Standard Life's wrap platform is to scrap rebates on new and existing business and move to a clean share class only model by the start of the 2014/15 tax year, Investment Week can reveal.

The Tax Incentivised Savings Association (Tisa) is to launch a consultation later this month to look into how to convert bundled share classes held on one platform into clean share classes on another platform when a client re-registers.

Transact has moved to tackle difficulties accounting for the incoming rebate tax with the creation of a new automated system to calculate it.

Platform giant Skandia has opened talks with fund groups on its Select list asking them to supply new preferentially-priced 'super clean' share classes as soon as possible as it responds to the recent tax change announced by Her Majesty's Revenue & Customs...

The board of the Schroder Oriental Income investment trust, managed by Asian specialist Matthew Dobbs, is considering issuing C-shares to meet investor demand.