Fund Management
Legg Mason To Launch RDR-Ready Share Class Across UK Fund Range

Legg Mason Global Asset Management is to launch an RDR-ready share class for its 11-strong UK fund range.
The X share class will be added to the firm’s UK ICVC fund range during October. This share class will carry an annual management charge of 0.75 per cent on a typical equity fund, the firm said.
Firms of all stripes have been adding RDR-ready share classes to their ranges ahead of the implementation of the Retail Distribution Review on 31 December 2012.
Earlier this month the French asset manager Carmignac Gestion created three so-called “clean” distributing shares denominated in sterling in its Luxembourg Sicav. This follows the launch of RDR-ready sterling-denominated share classes within its French mutual fund structure back in June.