View more on these topics

Hill Samuel offers low-cost Pep in bid to cut investment trusts&#39 NAV discount

Hill Samuel Asset Management is strengthening its investment-trust range with a low-cost Pep which invests in three investment trusts.

The Pep covers the Hill Samuel UK Emerging Companies, German Smaller Companies and Lloyds Smaller Companies investment trusts.

The move is partly an attempt to reduce the discount to net asset value on the trusts – which stands at around 17 per cent – by attracting new investors.

Marketing director Rob Page says: "The aim is a combination of meeting customer demand for a savings vehicle and a very effective way of helping reduce the discount."

Initial charge is 3.75 per cent and annual 1 per cent. Commission is 3 per cent but there is no renewal payment.

Minimum investment is £50 a month or £1,000 lump sum.

HSAM&#39s move comes after other providers, including Commercial Union and GA Life, shelved Pep products over fears that the planned Individual Savings Account may lead to Peps being scrapped.

But Page insists that Peps have enough of a shelf-life left to be attractive to investors.


Broker fined £10,000 after monitoring visit

The PIA has fined a Kent broker £10,000 after “serious concerns” were identified in a monitoring visit. It says Julian Harris Financial Consultants of Musgrove, Ashford, failed to seek relevant information about the circumstances and investment objectives of its clients and failed to organise and control its internal affairs in a responsible manner. The PIA […]

Compulsory provision wouldn&#39t erode IFAs&#39 role

The public are becoming increasingly aware of the reducing role of the welfare state in areas such as pensions and long-term care. However, awareness alone will not lead the public to make higher levels of private provision. The latest estimate is that up to five million working people have not made any pension provision above […]

Yorkshire to offer loans by phone

Yorkshire Building Society is set to enter the flexible mortgage market and sell products direct over the phone later this year. It is spending £19m to upgrade computer systems, allowing the society to offer more complex products such as flexible mortgages. Flexible mortgages allow borrowers to take repayment holidays and make overpayments. They have become […]

£13m bill to set up FSA

The Financial Services Authority will cost regulated firms, including IFAs, an extra £13m to set up. The figure emerged this week as the FSA announced its regulatory plan and budget. The new regulator is being created from the merger of the self-regulating organisations, including the PIA and Imro. The £13m extra bill will be paid […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


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 thought leadership.

    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