View more on these topics

Egg launches fund supermarket

Egg has launched its online fund supermarket to its 940 000 customers promising to give cash back and rebates on initial fees up until April.


The loss leading enterprise is thought to have cost tens of millions of pounds to create and opens four months later than scheduled.


The move takes Egg into the intermediary market with 169 unit trusts and OEICs up for grabs. Investment trusts will come online when the sharedealing service opens in summer.


The funds which are not Egg-branded come from 12 high profile fund management groups including Jupiter, Newton, Schroders and Aberdeen Asset Management but not Fidelity which launches its own supermarket this year.


The fee structure has surprised analysts. Ernst & Young&#39s financial services partner Jonathon Charley says: “It is quite a surprise that they feel the need to go for a price-led proposition. This will put their operations under extreme pressure.”

Recommended

Pension holders told to seize the moment

With the new tax year and lower tax relief on pensions only days away, now is the time for personal pension holders to up their contribution.A lump sum paid into a personal pension by April 5 attracts 23 per cent tax relief for a basic rate tax payer. But on April 6, this falls to […]

National Insurance

In this Budget the cut in the employer&#39s NI rate from 12.2% to 11.9% from April 2001, announced in the November 1999 Pre-Budget Report, has been confirmed. A further reduction of 0.1% to 11.8% from April 2002 has been proposed.In the last Budget the Chancellor announced substantial changes to National Insurance to take effect from […]

Eurolife launches a capital offshore bond

Eurolife Assurance(International) has launched a capital secure offshore bond, open for investment in sterling or US dollars.The bond is linked to the NADAQ 100 Index and provides a 100 per cent capital return with growth ability of up to 60 per cent.The bond is aimed at non-taxpayers of the UK, overseas residents, offshore companies and […]

A new incentive to get Isas right

It was clear from the moment the Chancellor stood up &#45 or at least from when he first uttered &#34prudence for a purpose&#34, that we had all of our pre-Budget predictions confirmed. This was not going to be a give-it-all-away pre-election vote-winning event. And that was how it was.Nevertheless, all Budgets create change and, for […]

The FCA’s five fixes for retirement information

The Financial Conduct Authority (FCA) has started to change the way that people will be told about their pension options. In a recent market study paper, they lay out their final proposals on the information that should be delivered to people approaching retirement and how it should look and feel. During 2015, there will be […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment