Norwich Union hikes active fund charges

Norwich Union has admitted it cannot sustain investments under the government's proposed price caps and will have to increase annual charges on some of its funds from February. Funds will be divided into two categories from 28th February to give the option of low-cost tracker funds or slightly higher costs on actively managed funds. Three funds will make up the CAT priced range - the Blue Chip Tracker, UK Index Tracker and International Index Tracker - which carries an annual management charge of 0.9% and no initial fee. The non-CAT priced range will from February contain eig...