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.'
Smoking biggest culprit; obesity second
Average earner will gain £840 in 2018
Will also move heritage items
Responding to letter from Treasury Committee chair Nicky Morgan