Liechtensteinische Landesbank (LLB) is planning to introduce a retrocession-free and new pricing structure for its own and third-party funds.
It will be joined in doing so by Bank Linth, one of the first banks in Switzerland to take this step. Pricing structures will also be simplified and performance-based fees will be introduced for selected strategy products.
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LLB Group CEO Roland Matt said by launching the new pricing structure, the LLB Group is leading the way and is already fulfilling future regulatory requirements.
Starting July 2014, LLB and Bank Linth are expected to implement retrocession-free pricing structure for asset management and investment advice related to LLB funds, besides voluntarily extending it to clients the trailer fees received for third-party funds in full.
With this move, LLB has become one of the first banks in Europe to introduce a performance- or interest-based fee model for selected strategy and bond funds.
LLB Group Private Banking head Gabriel Brenna: «Our approach to fees sets us apart from the market. We create comprehensible, transparent pricing structures. Our clients benefit from attractive, performance-based conditions for our fund products, which are regularly distinguished for their above-average performance."
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