Rathbone Unit Trust Management is set change the fee structure of its fund range from the start of March, as a preparation for the UK regulator’s Retail Distribution Review.

The 0.5 per cent trail commission and 0.25 per cent platform fee currently included in the annual management charge will be removed, resulting in a share classes with an annual charge of 0.75 per cent and no initial fee.

Rathbones calls the new charges institutional “i-class” but they will be available to retail investors who buy the funds via a platform.

“The Retail Distribution Review represents the greatest change to the financial advisory industry in a generation, bringing an end to commission payments and making fee-based remuneration the norm,” said Mike Webb, chief executive of Rathbone Unit Trust Management.