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Norwich Union scraps initial commission on tracker funds

Norwich Union plans to cut the 5 per cent initial charge on its index tracker funds following their conversion from unit trusts to an Oeic in November.


The life office is also set to pay 0.5 per cent renewal commission on Oeics bought outside a Pep wrapper with the exception of its index tracking funds.


It will convert its 18 unit trusts into an Oeic by mid-November after members voted in favour of the change.

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