The clean share classes are available for Prudential’s suite of multi-asset funds, including Managed Defensive, Cautious Managed Growth, and the five Dynamic Portfolios funds.

The annual management charge (AMC) for the clean share classes on the Managed Defensive and Cautious Managed Growth funds is 0.60%, and 0.65% on the Dynamic Portfolio funds.

Prudential head of business development for investments Paul Fidell said: “The introduction of clean share classes is a welcome move for investors as it will ultimately make fund charges more transparent, while also signalling a fundamental change to the way the collectives market operates.

“The forthcoming regulatory and fiscal changes surrounding rebates are accelerating the introduction of clean share classes. The launch of Prudential’s ‘P shares’ ensures that investors can continue to access our popular multi-asset fund ranges on platforms, which continue to grow in popularity.”