Standard Life has claimed it has secured super-clean fund classes from 15 major fund groups, the first confirmation that asset managers are willing to give ground on pricing.
The platform said it had secured a 9 basis point discount on average across the funds, meaning prices could be around 66 bps for an equity fund. The deal will mean users can avoid the new rebate tax, a major plus point for advisers and clients. Standard Life added it is continuing negotiations with other fund groups to "secure the best possible terms for advisers' clients on its platforms". It said all super-clean terms will be published in September, adding it is working with each group individually to get the new super clean funds on the platform as soon as possible. The ann...
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