The majority of adviser firms anticipate placing more than 75% of new assets in clean share classes as the switch away from bundled charging continues to gather pace, according to AXA Wealth.
More than half (52%) of the adviser firms questioned by AXA Wealth as part of its quarterly adviser survey, said they anticipated placing more than 75% of new platform business into clean share class funds during the next 12 months. A further 20% predict that the level of new assets going into clean share classes will be above 50%, indicating that the popularity of clean share classes as an investment solution is set to continue to increase. AXA Wealth this week announced that there are now over 2,500 clean share class funds on the Elevate platform.
David Thompson, managing director, Elevate, said: “Advisers have embraced the control that clean share classes provide over their clients assets. Together with the introduction of the RDR, HMRC’s decision to tax fund manager rebates and the FCA’s platform paper rules, these factors have all contributed to the rapid adoption of clean share classes during the first half of 2013. This trend is something we have witnessed on our Elevate platform with the percentage of inflows into clean share classes increasing month on month.
“With advisers anticipating placing such a large proportion of assets going into clean share class funds over the coming 12 months we are committed to providing them with a comprehensive set of options, and as early adopters of clean share classes we are in a strong position to offer advisers and clients the clear and transparent solution they are looking for.”
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