Skagen is set to offer the largest institutional investors discounted shares on its Kon-Tiki and Global funds.
The Norway-based fund manager is seeking approval from its unitholders to create additional share classes across its fund range. The £5.3bn Kon-Tiki fund will offer a fixed fee of 1.25% for investors with more than 300m Norwegian kroner (£29.4m) and a fee of 1.5% for those over 100m kroner (£9.8m).
This compares to a retail and external distribution share class fixed fee of 2%, and a clean share class fee of 1.5%.
Similarly, the largest investors in the £4.5bn Global fund will be able to access fees of 0.5%, compared to a clean share class of 0.8%.
While the new share classes are aimed at institutional investors, other investors also qualify as long as they are not a distributor or a nominee.
Skagen told unitholders it aims to create unit classes tailored to the needs of institutional investors. It said: "The rationale for limiting the number of unit classes is to simplify the structure and make it more transparent for unitholders and cost effective for the management company."
Skagen share classes
