Neville James Portfolio Management has launched a management service for traded endowment policies (...
Neville James Portfolio Management has launched a management service for traded endowment policies (TEPs).
The group, owned by Challenger, the Australian financial services company, offers four options to investors ' specialist TEP investment advice, a gearing facility, an administration service and a pre-paid premium option.
The investment management service levies a 1% charge on initial capital as a set-up charge and has a minimum investment amount of £100,000.
The administration service is free if used in conjunction with the gearing option otherwise it attracts a fee of between 0.25% for investments with a starting value of £100,000 and to 0.2% for funds over £500,000 in value.
Neville James said the service is designed to be as flexible as possible, giving investors as little or as much input as they want, either directly or through an intermediary.
Brett Newman, chief executive officer of Challenger in the UK said 'The industry is currently seeing Tep returns typically in the region of 9% per annum. We are finding that a number of investors are now using TEPs for school fees planning and within Sipp and Ssas pension schemes.'
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