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Britannic discount deal is just for IFAs

Britannic Asset Management is looking to boost its presence in the intermediary market by offering a discount on all IFA sales of its new global sector funds.

The 2 per cent discount will apply only to lump-sum investments, reducing the funds&#39 initial charges to 3.25 per cent until the end of April.

The deal makes Britannic one of the first investment houses to offer discounts exclusively for independents.

The four funds – global healthcare, global financial services, global technology and global resources – are due to launch on February 19 and will take the total number of Britannic unit trusts to 17.

All four funds will aim to achieve long-term capital growth by investing in a portfolio of global equities.

They will be run by two leading managers with a minimum of five years&#39 experience within their fund&#39s sector.

The funds will all be benchmarked against their respective FTSE World indices.

All the funds have an annual management charge of 1.5 per cent. Initial commission is 3 per cent and 0.5 per cent trail. Minimum investment is £500, with a minimum top-up of £250.

Chief investment officer Peter Reid says: “On a global scale, sector factors are now as important as country factors in determining a company&#39s share price performance. We have been analysing sectors on a global basis for almost three years now. These four major global sectors will appeal to a wide range of investors with differing investment-style biases and time horizons.”

Bates Investment head of research James Dalby says: “The discount is excellent for IFAs. I do not think people should be buying straight off the page and this move supports the IFA proposition.I think it is very positive.”


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