New Products
SKAGEN Launches Two New ‘Clean’ Unit Classes

The Norwegian fund management firm, SKAGEN, has launched new unit classes in the UK for three of its equity funds, including its flagship SKAGEN Kon-Tiki, as well as SKAGEN Global and SKAGEN Vekst.
The Norwegian fund management firm, SKAGEN, has launched new unit
classes in the UK for three of its equity funds, including its
flagship SKAGEN Kon-Tiki, as well as SKAGEN Global and SKAGEN
Vekst.
The new unit classes, launched on 1 January 2014, comply with
regulatory changes following the implementation of the Retail
Distribution Review, which no longer permits investment managers
to pay commission to advisors, platforms or distributors and
forces investment firms to provide investors with ‘clean’ share
classes.
As previously announced, unitholders approved the establishment
of the new unit classes at a meeting in Stavanger, Norway, on 19
June 2013.
As such, two unit classes, A and B, have been established for
each of the above mentioned funds. The A-unit class is subject to
the same fund conditions and all existing clients who hold their
units directly with SKAGEN will be in this class, the firm said
in a statement.
The B-unit class has a lower management fee than the A class and
is open to UK investors who are no longer able to receive
remuneration from SKAGEN. The firm also encouraged distributors
to check whether they are eligible for the new B-unit classes by
contacting the firm.
SKAGEN’s other funds are unaffected by the changes.