An offshore investment fund supermarket has been launched by Internaxx to give investors access to m...
An offshore investment fund supermarket has been launched by Internaxx to give investors access to more than 200 funds via the telephone or the internet.
Investors will be able to select offshore funds depending on asset class, investment style and risk ratings by choosing from unit trusts and Oeics from nine fund providers including Fidelity Investments, Schroders and Credit Suisse Asset Management.
The supermarket will also offer a choice of over 40 house funds managed by TD Asset Management and Fortis Investment Management, and the fund offering is expected to expand in the coming months.
The execution-only service based in Luxembourg, features discounts of up to 50% on initial savings charges as well as rates of 2.5% on equity and balanced funds, 1.5% on bond funds and 0.15% on money funds.
A transparent pricing philosophy means there will be no trading commissions on purchases and redemptions of unit trusts, no call centre costs and equal sales charge rates for all funds within an asset class.
Fund research from Standard & Poor's will provide information on top-ranked funds and fund analysis and TD Asset Management will offer economic comment, data on trends and news.
Angus Rigby, managing director of Internaxx, said: 'Mutual fund investment is set to grow to over E4 trillion by 2004. We are confident that our competitive products and services ensure we can take advantage of this market growth.'
The website is located at www.internaxx.lu
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