Invesco launches exclusive share class for big five platforms

Invesco Perpetual is launching a new discounted share class for five of the UK's largest platforms, offering their users cheaper access to its fund range, Investment Week can reveal.

Following up last week's move to scrap the AMC on its funds and replace it with an ongoing charge in a bid to simplify the fund fee structure, the group has introduced a "Y" share class which is 5bps cheaper than its standard price. The "Y" share class has been offered to just five platforms - Hargreaves Lansdown, Fidelity FundsNetwork, Standard Life, Skandia and Cofunds - which already have substantial client holdings in the group's funds. Invesco had already introduced clean pricing in 2012 as part of a move to prepare the business for the post-RDR world, but has held off until now ...