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L&G joins stockpicking scrum

Turning to the charges, Robinson says: “It has a bog standard annual charge. The back ended charges are okay for five years or longer but they are expensive if you have to level out after two years, yield reduction from seven per cent to 5.35 per cent.”

MacFarlane thinks the charges are fair and reasonable but adds that he dislikes products with a back end charging structure. Gibbon says: “The annual management charge is slightly high. The fact there is no initial charge for lump sums might make it seem attractive. However, in the long term, the charges are on the high side.”

Turning to commission, the panel agree that it is standard.

Looking at the literature, Robinson says: “It is very simple and easy to read.” Holian agrees and says it is plain and straightforward.” Gibbon says: “It is reasonably standard but like all financial services literature, it must seem complicated to the public.”

MacFarlane says: “It is clear, concise, and simple to understand. It is well thought out, however, there is little useful detail included for the adviser. The literature is definitely aimed at the less sophisticated investor.”


Britannic discount deal is just for IFAs

Britannic Asset Management is looking to boost its presence in the intermediary market by offering a discount on all IFA sales of its new global sector funds. The 2 per cent discount will apply only to lump-sum investments, reducing the funds&#39 initial charges to 3.25 per cent until the end of April. The deal makes […]

Investment View

With markets failing to recover their poise, last week seemed an appropriate time to head off to the Cornish countryside and test the temperature of the investing public and their advisers. The occasion was the first of the AITC&#39s 2001 roadshows. Given that the event was designed to appeal to investment IFAs, whose clients presumably […]

Britannia Building Society announces 15 year fixed rate

Britannia Building Society is launching a 15 year fixed rate mortgage at a rate of 5.69 per cent for up to 75 per cent of property value. Loans of 95 per cent loan to value are fixed at 5.89 per cent. A 10 year fixed rate option with the same rates is also available. Britannia […]

Cofunds waiting for Imro

Cofunds&#39 launch was further delayed this week as the IFA fund supermarket awaited approval from Imro and the Inland Revenue. As Money Marketing went to press on Tuesday, Cofunds said it hoped to have approval before the end of the week. It will be unable to take any money until full authorisation has been acquired […]


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