Friends Ivory & Sime Investment Trusts is launching an investment wrapper containing its three small...
Friends Ivory & Sime Investment Trusts is launching an investment wrapper containing its three smaller companies trusts, writes James Thorneley.
The Isable and Pepable Twenty20 investment portfolio is equally split between shares in the AIM, Discovery and UK Smaller Companies trusts. This will provide investors with exposure to three indices, FTSE AIM, FTSE Fledgling and FTSE SmallCap.
Intermediaries can receive up to 4% initial commission on the product until 30 June 2000, with it then falling to 3%, paid from the client's investment. IFAs can also receive 0.5% renewal each year.
The minimum lump sum investment is £5,000 and the minimum monthly contribution is £150.
Investors can opt to receive quarterly income from the portfolio which will be paid direct into nominated banks accounts in January, April, July and October. The level of income taken can be fixed at any level between 0-10%pa of the initial investment.
Payment of the higher levels of income may consist of a combination of dividends and capital. Any surplus over the £7,000 Isa limit may be invested outside the product and can be switched into an Isa the following year automatically.
Contact 0345 992299
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till