Provider The Children's Mutual Product The Childrens Mutual Maxi stocks and shares ISA (ava...
The Children's Mutual
The Childrens Mutual Maxi stocks and shares ISA (available as an investment option under The Children's Portfolio*, Baby Bond® & Youngster Bond)
* The Children's Portfolio offers the facility to combine any number of With-Profits Savings Plans and ISAs in single Portfolio. It is designed to enable a number of different people (parents, grandparents etc) to save towards a specific target at a specific point in the future to fund known future liabilities e.g. higher education, deposit on first home etc.
Maxi ISA Product
This is the Maxi Stocks & Shares ISA product.
CAT (Cost, Access, Terms) standard option available
This is not a CAT standard ISA.
Unit Trusts/OEICS available within this product
There are 3 funds available for investment. The funds are managed by UBS Global Asset Management.
UBS Managed Fund
UBS UK Select Fund
UBS Medium Term Fixed Interest Fund
Investment Trusts available within this product
Investment Trusts are not available within this product.
Fund Links domiciled outside the UK
There are no Offshore funds available.
Shares available within this product
Shares are not available within this product.
Own choice of underlying investments allowed
The investor is able to choose from 3 funds available.
Underlying investments chosen by the manager
Corporate Bond ISA available
This is not a Corporate Bond ISA.
Minimum Stand Alone Single Premium
The minimum lump sum sum investment is £1500.
Minimum top-up premium £
The minimum additional investment is £1000.
Minimum monthly premium £
The minimum monthly premium is £50 per month. The minimum per fund is £40.
Nil Initial Charge Funds available
There are no nil initial charge funds.
Total Initial Charge (%) for lump sum investments
The initial charge for lump sum investments is 4%.
Total Initial Charge for monthly investments (%)
The initial charge for monthly investments is 4%.
Annual Fund Management Charge %
The annual fund management charge for the Managed & UK Select fund is 1.5%, but for the MediumTerm Fixed Interest is 1%.
Charges Levied for Surrender (£)
There is no exit charge.
Additional Fee For Transfers In
There is no additional fee for transfers in but they are subject to receiving a net amount of at least £1000 after any exit charges and/or penalties have been applied by the transferring ISA manager.
Additional Fee for Transfers To Another Manager
Partial or Full Transfers out are allowed subject to a fully completed form and subject to leaving a minimum residual value of £1000 in each fund still invested. There is currently no charge for Transfers-Out.
Dealing Charge %
There is no dealing charge.
Dealing Charge Additional to Initial Charge
There is no additional dealing charge.
Number of Funds Available
There are 3 funds available for investment managed by UBS Global Asset Management. UBS Managed, UBS UK Select and UBS Medium Term Fixed Interest (uncategorised by IMA sector). UBS Medium Term Fixed Interest Fund is a new fund which invests in a portfolio consisting primarily of gilts, money market instruments and other debt securities. The primary objective of the fund is to limit the risk of overall loss to an investor over the short to medium term. Subject to this, the fund will aim to maximise returns relative to the Barclays Capital 1 to 5 Year Gilt Index over time.
Balanced Managed Funds Available
UK All Companies funds available
UBS UK Select
Option to Switch Funds or Securities
There is a switching facility available.
Unlimited (However, the company reserve the right to charge for switching).
There is no charge for switching. The company reserve the right to charge for switching.
Minimum Value Allowed to Remain in ISA After a Withdrawal
The minimum value allowed to remain in the ISA following a withdrawal is £1000.
No guarantee applies.
Monthly Income Option Available
There is no monthly income option available.
Cooling Off/Cancellation period
There is a cancellation period of 30 days. Market value adjustment applies to single and yearly payments if the share price has reduced. The maximum refund is the value of the amount invested.
Commission options available
There is 3% commission on all payments, including transfers-in. Commission can be sacrificed for an equal enhancement to purchase of OEIC shares.
The launch offer will run from 20/01/03 to 05/04/03. It will apply to any regular monthly contribution ISAs started during this period. In these cases the first 12 monthly contributions will be invested in full ' there will be no initial charge on these contributions (normally 4%).
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress