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Firm sets up NZ deal

Offshore Qrops has launched a New Zealand scheme allowing UK savers to transfer their pensions into a registered superannuation in the country.

The product has a zero entry fee and a trustee fee of 0.5 per cent of the fund value a year although there is an early withdrawal fee of up to 4.5 per cent if clients remove their funds within five years of joining the Qrops. There is also a £3 per member per month administration fee and the group says audit costs may be absorbed by the trustee initially but in due course split between member funds.

The investment manager will charge an annual fee equal to 0.95 per cent of the market value of the managed assets within the fund and the trustee, acting as custodian, will not charge initially but reserves the right to charge 0.125 per cent of assets up to £92.30 at a later point.


Seconds out for hourly fees

Lee Jones reports that a debate is raging over fee-charging methods after an emerging trend in the legal sector that has seen solicitors forced to switch from their traditional ways

Fund Focus: Global Bonds

Global bond has always been something of a catch-all sector, comprising various non-sterling specialist portfolios as well as funds seeking fixed-interest opportunities across the world. Looking at performance over three years to the start of August, this diversity of mandate is clear to see, with a massive 125 per cent differential between the best and […]

German banks launch last-minute attempt to relax Basel III rules

Germany’s biggest banks yesterday launched a last-minute attempt to relax the tough new proposals on capital requirements before today’s Basel Committee on Banking Supervision meeting to finalise the rules. Germany’s banking industry warned that its top 10 banks will have to raise as much as £87bn of new capital under the new regulatory structure, according […]

Tax avoidance (the fight goes on)

In recent times, we have witnessed high-profile celebrities and sports stars make the headlines for potential tax liabilities on ‘failed’ tax avoidance schemes. We are now used to reading about these individuals, but what about those who advise on such schemes? Read more


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