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Guardian slashes unit trust initial charges

Guardian Unit Managers has slashed the initial charges on ten of its unit trusts by 2.5 per cent to prepare for the launch of its Isa.


The Guardhill, Balanced, European, Extra Income, Gilt & Fixed Income, Growth Equity, Income, International, Japan, North American and Pacific unit trusts, all of which had an initial charge of 6 per cent, will now charge 3.5 per cent.


GUM has also added a new unit trust, the Cash Deposit Trust, bringing the number of trusts available under the Isa to eight.


This trust, which will have no initial charge, has been specially set up to form the cash part of an Isa.


Guardian unit managers Nigel Wright says: &#34The price cuts and the new Cash Deposit Trust will enhance a portfolio already containing some notable performers.


&#34As we prepare ourselves for the launch of Isas, we can offer a portfolio which is competitive in terms of charges and past performance.&#34


IFA commission is 3 per cent on all funds with the exception of the UK 100 Index Tracking Trust and the Cash Deposit Trust.


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