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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


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


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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