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Sterling Isa offering multiple fund links

Sterling Assurance is offering a new Isa exclusively to IFAs through


Zurich IFA Group.


The Sterling Isa is available from April 6 in maxi or mini versions. The


fund draws on a wide pool of in-house and external fund managers and


includes links to Newton, Invesco, Fleming and Close, many of which are


AAA-rated.


Threadneedle is responsible for 29 of the 56 funds. There are 14 external


inv estment houses. Sterling says multi-fund links are a hallmark of its


products.


The Isa has flexible IFA commission options, including indemnity options


for monthly investments and/or trail commission. Initial commission is 4


per cent. Trail commission is 0.5 per cent of fund value.


Minimum investment is £100 a month or £2,000 lump sum for 2000/01. Maximum


is £7,34in a maxi or £3,149 in a mini. It is claimed to be suitable for


regular and single-premium investments as well as transfers. The cash


component in the maxi version is provided by the Mercury cash unit trust.


Annual charges reduce as the fund grows, decreasing as soon as the fund


reaches £15,000. Initial charge is 4.75 per cent. For investments up to


£15,000 the annual charge is 0.5 per cent plus VAT on Threadneedle funds


and 0.75 per cent plus VAT on ext-ernal funds.


For investments of £30,000 and over, it reduces to 0.1 per cent plus VAT


on Threadneedle funds and 0.2 per cent plus VAT on external funds.


Zifa spokeswoman Sandra Lymburn says: “Sterling has a pivotal role in the


Zifa portfolio of brands. By replicating many of the features which


propelled Sterling&#39s highly successful investment bond into the top 10


providers of unit-linked bonds, we hope Sterling&#39s Isa will be just as


attractive to IFAs and their clients and help Zifa achieve organic growth


in the IFA market.”

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