PIMCO, the global investment management firm, is to launch a new RDR-ready share class across its UK fund range.

The firm intends to have a “clean-fee” share class in place for its Global Investor Series and Select fund ranges by the end of the third quarter of this year. The details of the new share class have yet to be decided; PIMCO already offers retail investors access to institutional, administrative and E share classes.

In other developments, the firm’s funds are also anticipated to join the Investment Management Association’s classification sectors by the end of June.