Eurolife Fund managers is extending the share choice through its Pep transfer plan from FTSE 100 to ...
Eurolife Fund managers is extending the share choice through its Pep transfer plan from FTSE 100 to all 750 stocks in the FTSE All-Share, writes Ruth Alexander.
From 6 April, Eurolife will accept in-specie transfers of single company Peps, allowing investors to remain within an existing branded product while still putting it under the Eurolife umbrella.
Eurolife offers this via its Pep Consolidation Company. There is no initial charge on the plan, a 1% fee in the first year, and a 0.5% charge from year two onwards. Eurolife pays trail commission of 0.5% on all assets in the first year. From year two onwards renewal is available only on unit trusts
Ian Annand, head of marketing at Eurolife Fund Managers, said it will be possible to switch into collective investments quickly without being in cash and out of the market for long periods. Equally, Annand said, the group accepts transferred cash proceeds and investments in All-Share stocks, unit trusts, Oeics or investment trusts into one plan.
Eurolife is now also close to announcing details of its online switching service as well as the new Isa Consolidation Company, modelled along the lines of the Pep Consolidation Company.
He said: "We are finding that IFAs choose our service for the universal choice of unit trusts, Oeics and investment trusts at low charges and also for the opportunity to hold direct equities in larger Pep portfolios."
For undisclosed sum
Entry deadline: Friday 28 September 2018
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