Charges set on Portfolio tech fund

Portfolio Fund Management has finalised the charging structure on its technology fund of funds. The product has an initial charge of 5% and an annual management fee of 1.5% plus an estimated extra annual fee of 0.15% to cover trustee, audit, regulation and registration fees. Portfolio said that the maximum total annual charge will be 2%. Those investing before 1 May will get a bonus of 1% in extra units. The minimum investment is £1,000 lump sum or £100 per month and the fund is Isable. IFA commission is 3% initial and 0.5% renewal. The technology fund of funds will have holdings in aroun...