AXA IM to reduce AMC on Thomas' UK Select Opps fund

AXA Investment Managers plans to revamp its clean share class proposition for Nigel Thomas' £3.3bn AXA Framlington UK Select Opportunities fund, which will see the AMC lowered for some investors.

The group is planning to scrap its super institutional ‘ZI' clean share class, which had an AMC of 0.75% and a minimum investment of £30m. It will retain its RDR-friendly ‘Z' clean share class, which has a minimum lump sum investment of £100,000, but has lowered the AMC from 0.85% to 0.75%. The ‘R' share class on the fund, predominately for legacy business, will still carry an AMC of 1.5% and a minimum investment of £1,000. Rob Bailey, head of UK sales at AXA IM, said the share class revamp on the fund will give clients greater clarity over the firm's RDR pricing proposition and br...