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Fund supermart is first to take offshore focus

TD Waterhouse and Banque Generale du Luxembourg are teaming up to launch an offshore fund supermarket offering more than 200 funds from nine providers.

Claiming to be Europe&#39s first comprehensive offshore supermarket, the Internaxx service carries offshore unit trusts and Oeics from prov-iders, including Fidelity, Schr-oders and Credit Suisse Asset Managers, as well as 40 in-house funds run by TD Asset Management and Fortis Inv-estment Management.

Internaxx is aiming to market the funds, which are available on an execution-only basis and which are not regulated by the FSA, at customers wanting to domicile their assets offshore.

It says consumers will benefit from transparent pricing, with no trading commission on purchases and redemptions of unit trusts.

The service also includes access to independent fund research from Standard & Poor&#39s.

Internaxx managing director Angus Rigby says: “Our offshore fund supermarket is as sophisticated as any onshore online broking service. Mutual fund investment is set to grow to over four trillion euros by 2004. With more than 10 million UK expats living abroad, our fund supermarket is well placed to offer offshore investors flexibility, real performance and cost-efficient alternatives to existing products.”

Roger Sanders Associates principal Roger Sanders says: “Developments of this type are to be welcomed by IFAs. But there is still no evidence that there has been a rapid rise in demand of consumers wanting to deal on the web without advice. The problem they may have is this is a business-toconsumer proposition but the way to use the internet is business to business through IFAs and incorporating aggregation technology.”


Jupiter expands IFA support service

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London is the key for Delph

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Where did it all go wrong for business-to-consumer financial websites? Only a year ago B2C personal finance websites were all the rage. Any self-respecting high-street bank, life insurance company or mortgage provider was building and launching a consumer-facing website.Many were investing millions of pounds launching entirely new brands to try to attract a younger, affluent […]

Price is not right

Would any reader accept a system that denied the point of his or her existence? This is not the FSA&#39s intention but it is close to where it has ended up with the publication of its fund manager league tables based solely on price.Managers also fear that, with the inclusion of several price filters, investors […]


Guide: 10 required letters — what to send, to whom and when?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.


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