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Norwich Union gives details of Isa range

Norwich Union is launching a range of maxi, mini, Cat and non Cat-marked individual savings accounts.


The range consists of four separate products, the Performance Isa, Homesaver Isa, Savings Isa and the Norwich Union Investment Isa.


The Performance Isa is Cat standard product available on a maxi or mini basis. It has a choice of three actively managed funds with no initial fees and annual management charges of 0.8 to 1 per cent, dependent on the fund invested in.


Commission is available at 3 per cent initial and 0.15 per cent renewal until 6 July 1999 and then at 1.5 per cent initial and 0.15 per cent renewal thereafter.


The Norwich Union Investment Isa offers a choice of 17 funds of which eight meet Cat standards, with no initial fees and annual charges of between 0.8 and 1 per cent.


The remaining nine non-Cat funds have a 5 per cent initial and 1.25 per cent annual charges.


Commission on Cat standard funds is 1.5 per cent initial and 0.15 per cent renewal. On other funds it is 3 per cent initial and 0.5 per cent renewal.


The non-Cat standard Savings Isa is an insurance based mini-Isa, which allows investment into Norwich Union&#39s with-profit and three unit-linked funds.


The Homesaver Isa combines the Savings Isa with Assured Life protection contract which falls outside of the Isa.


Commission on the Savings and Homesaver Isas is 4 per cent plus enhancements.

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