Investment trusts are not going to be allowed inside the Sandler suite of products. Like existing ...
Investment trusts are not going to be allowed inside the Sandler suite of products.
Like existing stakeholder products the Sandler suite will not permit closed-ended vehicles to be held directly.
The AITC, headed up by Daniel Godfrey, said that indirect investment in the products though, for example unit trust of investment trusts, had not yet been ruled out. The Government, in its response to Sandler stakeholder product specifications, stated: 'In order to endure that the medium-term product has the flexibility many consumers would expect, the products must be open-ended with no lock-ins or early redemption charges.'
As a result investment trusts are also excluded from the proposed Child Trust Fund.
AITC technical director Ian Sayers said: 'Although the stakeholder Child Trust Fund will not be able to hold investment trusts we are pushing the Government to allow a non-stakeholder version.'
Caring for children and elderly relatives
Similar to June 2007
Square Mile’s series of informal interviews
Fine reduced to £60,000
Two roles created