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&#39Low-charging funds not best performers&#39

Funds with the lowest charges are not always the best performers, according to new research conducted by Money Marketing Focus.

The research, uncovered in the MM Focus Isa publication this week, reveals that cheaper tracker funds often do not perform as well as more expensive actively managed funds.

The survey also warns investors to not take too much notice of Isa season discounts, as initial charges have little bearing on long-term returns, while ongoing annual charges are much more important.

Copies are obtainable by calling 020 7292 3730.


John Tiner

Lives: Married with three children in Dorking, Surrey,Born: February 25, 1957Age: 45 this weekSchool: St Peter&#39s, Guildford.Career to date: Accountancy school in 1976; Andersen since 1979, made head of UK financial services practice in 1993, then head of global financial services industry from 1997.1995 asked by Bank of England to investigate Leeson affair. Appointed FSA […]

Abbey wins VAT case against Customs

VAT is to be scrapped on funds which have their management outsourced, after Abbey National won a landmark case against Customs and Excise. Previously Oeics and unit trusts were only exempt from VAT if their investment management was carried out by the plan manager. However, Abbey challenged Customs over the case of its Inscape fund. […]

Platform Home Loans two-year discount

Platform Home Loans two-year discountDiscounted term: Two yearsDiscount: 1.5% discount until April 1 2004Payable rate: 5.375%Minimum loan: £25,001Maximum loan: 95% up to a maximum of £500,000Income multiples: 3.5 plus one or 3 x jointArrangement fee: £395 added to loanRedemption fee: 6% in first year, 6% in second, 5% in third, 4% in fourthConditions: NoneIntroducer’s fee: […]

Accounting rules pose threat to DB schemes

Scottish Equitable is warning that new company accounting standards could force the closure of many defined-benefit schemes and threaten the retirement options of thousands of employees.ScotEq believes that the Inland Revenue&#39s FRS17, which requires firms to show the state of their pension scheme on the balance sheet, could be the final straw for employers with […]

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.


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