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F&C scraps front-end loads

F&C is scrapping front-end loads on its UK-marketed open-ended funds but continuing to offer commission to IFAs.

The fund manager&#39s higher income plan and with-prospects fund will offer up to 2 per cent commission on all sales and transfers while the F&C blue will pay 1 per cent commission.

If IFAs forgo their commission F&C will allow up to 102 per cent unit allocation. Full trail commission will continue to be paid.

Head of IFA operations Jamie Farquhar says: “We are giving value to investors whilst not penalising them for seeking advice in the first place, and at the same time we are supporting the IFA industry.””

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