24/05/2012
Smith & Williamson adapts to RDR
The British asset management firm Smith & Williamson Investment Management has introduced clean shares in three multi-management funds from the group, managed by James Burns, ahead of the introduction of RDR regulations next year, Investment Week reports.Annual management commissions on multi-management funds have been cut to 75 basis points. Core equities carry fees of 75 basis points per year, while specialised equity funds charge 90 basis points.Smith & Williamson joins several other firms – Investex, Guinness AM, Schroders, River & Mercantile and Royal London AM – who have revised their fee structures to adapt to the new regulatory environment.
