Winterthur Life has established the universal Sipp, a self-invested personal pension plan that offers access to a range of investment funds from Winterthur Life and external fund managers.
The Universal Sipp is a full Sipp that provides access to a range of 41 funds from 17 fund managers including Credit Suisse, Fidelity and Newton. Three Winterthur funds of funds are offered, catering for cautious, balanced and more aggressive risk profiles. In addition, the Sipp can hold any investment that qualifies under Inland Revenue rules for inclusion in a Sipp, including Oeics, unit trusts, investment trusts and commercial property.
With an annual management charge of between £375 and £475, this Sipp is marketed at high-net-worth individuals as clients with a fair amount to invest can benefit most from the wide range of investment options it offers. The charges are more expensive if external fund managers are used, as opposed to investing only in Winterthur funds. But they are reduced by £200 for investments over £100,000 that are invested in the funds offered by Winterthur.
PimCos essential Sipp is also aimed at the higher end of the market, but it has a set-up fee of £425 and an annual charge of £375, which makes it more expensive than Winterthurs Sipp. It allows investment in any qualifying investment, without offering a selection of funds, which allows flexibility. But some Sipp investors may prefer Winterthurs ability to offer a specific fund range as well as leaving it up to the individual to choose their own investments.