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Autif draws up new way to compare total costs

Autif is working on a new comprehensive method for calculating investment fund charges, to allow consumers to compare similar products easily.

The Total Investment Cost will go beyond the Total Expense Ratio, encompassing initial costs and annual charges.

Writing in the UK Fund Review 2001, director general Richard Saunders says although Autif has advocated the use of TERs in the past, he believes the existing method of using reduction in yield produces misleading projections.

Saunders highlights how the introduction of the APR revolutionised the consumer credit industry by building consumer confidence.

He said: “Not only do we have to be transparent, but any information needs to be presented in a way that investors can really understand.”


Sandler commission bombshell

The head of the Treasury&#39s financial services review Ron Sandler has dropped a bombshell on IFAs by questioning their relationship with clients because of commission. The move, which comes as the FSA launches its own probe into commission, fuels speculation that payments may be capped through a new maximum commission agreement or Catmarking of advice. […]

Mercantile discount offers protection incentive

Mercantile Building Society is offering a discounted rate mortgage that has a 1.15 per cent discount until August 1, 2004.The mortgage is available to all borrowers for loans of up to 95 per cent of valuation with a maximum loan of £250,000 and has a current payable rate of 5.74 per cent. If borrowers redeem […]

The reel thing…

IFAs can help clients finance movies such as Henry V through a bespoke film sale and leaseback package from media lawyers Finers Stephens Innocent. The scheme aims to help IFAs pool investment clients into finance schemes entitling investors to tax relief of 40 per cent.

ScotLife moves into protection market

Scottish Life is setting up a new protection business in Edinburgh, solving the mystery surrounding the identity of the new Scottish player. It is understood to be headed by former Scottish Provident head of marketing and business development David Robinson. Money Marketing understands ScotLife has been recruiting former ScotProv staff who have left since the […]


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