In our capacity as managers of the Rathbone Greenbank Global Sustainability Fund, we have recently introduced a new power in the fund that allows us to move shareholders into a share class with lower fees where we believe it to be in the shareholders’ best interests.
Rathbone Greenbank Global Sustainability share class conversion
23 August 2021
Article last updated 27 August 2021.
We have recently reduced the minimum investment required to access our S-class shares, for which your clients are now eligible to invest in. We believe it would be in the best interests of your client to convert your investment from this share class (I-class Shares) into an alternative, cheaper share class (S-class shares).
How will this change affect my client’s investment?
We will convert your client’s investment from the I-class shares to the S-class shares on 25 October 2021 at which point we will close the I-class. This will result in your client paying a lower fee for the same investment.
Current shares
Name Rathbones’ fee(ACD fee) Other charges Transaction costs Total cost
of your investment I-class
Income Shares 0.75% 0.15% 0.11% 1.01% I-class
Accumulation Shares 0.75% 0.15% 0.11% 1.01%
Replacement shares:
Name Rathbones’ fee(ACD fee) Other charges Transaction costs Total cost
of your investment S-class
Income Shares 0.50% 0.15% 0.11% 0.76% S-class
Accumulation Shares 0.50% 0.15% 0.11% 0.76%
We do not need you nor your client to take any action to complete the conversion from the I-class shares to S-class shares.
If you wish to convert your client’s investment from the I-class shares to S-class shares earlier than 25 October 2021 you can contact us to do so.
How is the fund changing?
Apart from the closure of the I-class, there are no changes to the fund. The investment objective, investment policy and responsible investment policy of the fund will remain the same. The strategy, process and philosophy of the fund will remain unchanged, as will the fund manager. The fund continues to be managed by David Harrison and run by Rathbone Unit Trust Management, with specialist ethical, sustainable and impact investment research being provided by our sister company Rathbone Greenbank Investments.
What do I have to do next?
You are not required to take any responsive action as a result of this circular.
For queries relating to this circular please contact your usual Rathbones representative, or alternative you can reach us to discuss this on 020 7399 0399.
You can read our full communication here.
