Fund Market - (last updated 24 March, 2017)

WHAT IS A FUND MARKET?

Fund markets offer a wide range of funds different fund management companies.   The fund market will be the administration manager for your holding and will produce consolidated regular statements, but your money can be spread among various fund management companies of your choice.

New investments in fund markets following the FCA's Retail Distribution Review, must now be into the new clean share classes.  These are sometimes known as clean or commission free, explicit or unbundled share classes.

This therefore means there is no commission either initial or renewal and we therefore have a servicing charge which is a very competitive 0.2% per annum.  Clean share classes within a fund market have 3 charges instead of a bundled annual management charge.  There is no initial charge and the old annual management charge is broken down as:-

  1. Fund manager charge (varies dependent on fund manager)
  2. Platform (or fundmarket) charge - Cofunds starts at 0.26% on a decreasing scale and Fidelity Funds network is 0.25% per annum plus £45 fee.
  3. Our servicing charge in both cases is 0.2%

This does sound more complicated than before but please request the fund market literature from us to show full details of these charges.  In nearly all cases these do not exceed the old annual management charge.

The platform or fundmarket charge and our servicing charge is often taken from the platform cash account or largest fund holding, please check literature for full details.

Fund markets accept new investments, ISA and PEP transfers, and existing holdings in normal investment funds.
Switches between all the different funds offered by a fund market can be done simply and cheaply.

RE-REGISTRATION

Re-registration into a fund market means moving your existing holding intact, i.e. moving the exact number of units (or OEIC shares) in your holding to the fund market without the need for selling and re-buying. This can be done when moving (transferring) ISA and PEP holdings to some fund markets, or to transfer normal investment fund holdings to a fund market. Please be aware that new units on platform will be `cleaned' to the new share class on entry - please check the individual fund and fund market before proceeding.

We offer the Cofunds Fund Market and Fidelity Fundsnetwork

COFUNDS   

The charges vary between funds.  Click here for a list showing the funds available and the three charges now applicable to the new clean share class.
Through Cofunds -  please use our freephone number 0800 032 5433 to request literature.

Cofunds offer FREE SWITCHING

For Cofunds literature including full details of charges, KID and Terms and conditions together with our listing and their application forms, please contact us telling us whether you’re interested in a new ISA, investing new money in direct investment funds, or transferring an ISA, a PEP or direct investment funds.

FIDELITY FUNDS NETWORK   

The charges vary between funds. Through Fidelity Fundsnetwork - please use our freephone number 0800 032 5433 to request literature.

Fidelity offer FREE SWITCHING in their charges above and on the discount list.

For Fidelity literature including full details of charges, KID and Terms and conditions together with our listing and their application forms, please contact us telling us which fund manager or managers you are interested in as the listing is too long to post (see attached) but we can send the specific fund managers you are interested in.  Please also confirm whether you’re interested in a new ISA, investing new money in direct investment funds, or transferring an ISA, a PEP or direct investment funds.

E & O E

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