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BFS in bid to attract Invesco Peps

BFS Investments is reducing its minimum Pep transfer value to £3,000 from £5,000 until the end of August to attract Invesco Perpetual investors wishing to retain their Pep status.

The move follows Invesco&#39s decision to stop managing Pep accounts with direct shareholdings.

Investors have been asked to choose between selling their shares and switching them into an Invesco fund, continuing to hold them outside a Pep wrapper or transferring to another provider.

BFS&#39s Personal Selection Pep gives clients the option of investing in any UK-quoted company with a full stockmarket listing, unit trusts, Oeics, investment trusts or qualifying gilt-edged stocks.

Pep transfers can be made in cash or by reregistering the shares at no cost. If a Pep is worth less than £3,000 but the client has other Peps, they can be consolidated and transferred to meet the minimum investment.

Commission is flexible, allowing up to 3 per cent initial and 0.5 per cent trail. IFAs can download information on the Personal Selection Pep by logging on to www.bfsforifas.co.uk.

Director Nigel Sidebottom says: “We are delighted to offer this service to Pep holders who are being rejected by Invesco Perpetual and who are looking to choose their own stock.”

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