View more on these topics

Fidelity offering investment fund drawdown deal

Fidelity is adding a regular withdrawal facility to its investment funds to enable investors to draw down income without having to switch funds.

The facility will be available on all Fidelity funds and products from third-party providers on FundsNetwork. Income drawdown is available mon-thly or quarterly.

The service is free and will initially be available on unwrapped funds but will be extended to Isas and Peps later in the year.

Head of IFA business Peter Hicks says: “Advisers regularly tell us that they would like a regular withdrawal facility on mutual funds for two reasons. The first is that their clients’ requirements can change overnight on reaching retirement from accumulating assets to wanting to draw an income. At the moment, their clients often have to sell growth funds, despite being more than happy with the performance, because they now need an income.

“The second reason is that it is very challenging for advisers to construct a portfolio of mutual funds to produce a natural regular income due to different dividend levels and distribution dates.”


Property funds popular for Sipp

Property funds make up three of the six best-selling funds in the FundsNetwork Sipp. Invesco Perpetual high income was the top seller, with Norwich property trust third, New Star property fourth and Standard Life property sixth.

Cameron calls for return of right-to-buy

Tory leader David Cameron has floated the idea of reprising the Conservative right-to-buy scheme of the 1980s.Speaking at a Cicero summit on 1st time buyers, Cameron said a radical solution was needed to address current housing problems in the UK and has commissioned a Conservative Party working group on housing to look into bringing back […]

Cable in call to axe high-rate tax relief

The Liberal Democrats want to axe higher-rate pension tax relief and end forced annuitisation at age 75. In the party’s Tax Commission proposals Shadow Chancellor Vince Cable set out plans for a fundamental reform of the tax system last week under the slogan, Fairer, Simpler, Greener. Cable says it is particularly difficult to defend higher-rate […]

The lion roars

Last week saw me visiting Liontrust in its offices adjacent to the Savoy. Nigel Legge, one of its founders, and I go back a long way. Indeed, it is true to say that most of the original team and I are old muckers, as we all worked together at James Capel. Liontrust may have had […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm