Invesco Perpetual is set to launch a new discounted share class for its five of its UK platforms.
The new Y share class will be 5bps cheaper than market equivalents and will be available from 1 April across five platforms including Hargreaves Lansdown, Fidelity FundsNetwork, Standard Life, Skandia and Cofunds.
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The five platforms already hold a substantial amount of client assets within Invesco funds.
Invesco said that it is launching a new share class to accommodate the discounts, rather than operating through unit rebates.
Ian Trevers, head of UK retail at Invesco Perpetual, said: "The 5bps discount for the selected few platforms was not an improvement on the terms agreed with these distributors under the old rebate model.
"Our research shows that investors are put off by the complexity and this is further evidence of how we are simplifying things by moving away from rebates. The platforms mentioned here are the ones we have worked hard with over the years to develop economies of scale," he added.
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