View more on these topics

Henderson Investors changes its unit trusts and exempt funds

Henderson Investors is bringing in a sea change to all of its 33 unit trusts and exempt funds.

The company is to convert the funds into a total of 25 open ended investment companies (OEICS) in a staggered tranche of two OEIC umbrellas. The first group, consisting of UK and European funds will be available from September 4, while the global group will be available from October 2.

Henderson is also introducing a new US-style share class, named the X class to differentiate it from the Henderson&#39s retail class A and institutional class I shares which will still be available for the funds. Class A shares can be bought by smaller investors with between £1,000 and £500,000, class I shares are aimed at high net worth individuals and institutional investors with more than £500,000 and class X shares are for investors with £1,000 or more to invest.

Henderson&#39s X class shares will have no initial charges, an annual management charge of between 1.25 per cent and two per cent depending on the fund, and exit charges for the first six years. In contrast class A shares have initial and annual charges and I shares have no initial charge but have an annual management fee.

Products that have exit and annual management charges but no initial charges are becomingly increasingly popular in the US. The inclusion of X shares gives investors more choice.


IFAs want ABI to clarify stance on polarisation

IFAs are demanding the ABI clarifies its position on polarisation following the revelation in Money Marketing that its last FSA submission advocated white labelling.The ABI says the clause on white labelling was included after lobbying from its members. There was no such clause in the original draft submission sent out to life offices.But providers with […]

With Friends like this…

A client of ours recently increased his regular monthly contributions to his Friends Provident personal pension.Quick as a flash, our local Friends Provident office churned out an illustration based solely on the additional contributions, the main function of which is to let the client know just how much commission the additional contributions will generate.As a […]

IFAs urged to welcomelife industry standards

IFAs should welcome the ABI&#39s proposals to establish standards across the life industry, says a taskforce chaired by Aifa director general Paul Smee.The Savings and Long Term Risk initiative is to provide accreditation for life office brands.IFAs had expressed concerns that the initiative would grant accreditation more easily to providers which use direct salesforces rather […]

A high wind in Jamaica Inn

At last, Money Marketing brings you the final instalment in the diary of a pension misselling victim Here it is. Finally, after the long wait, that tell-tale envelope, the one which says: “Your pension review – private and confidential.” Not any more then, obviously.Never mind. The thrill is all in the envelope – the sum […]

Brexit Commentary from Natixis Global Asset Management

By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]


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