Friends Provident has launched a unitised with-profit fund as part of its Investment Portfolio Bond....
Friends Provident has launched a unitised with-profit fund as part of its Investment Portfolio Bond. There will be an introductory special offer until 9 November providing an extra 2% allocation on sums invested.
There is a single annual management charge of 1.25% on the new fund and investors will be eligible for a final bonus immediately on investing in the fund. There will be a regular annual bonus allocation in addition to the final bonus and no bid/offer spread. The special offer allocation for investments from £5,000 to £9,999 will be 102%. From £10,000 to £19,999 it will be 103.75%, from £20,000 to £99,999 and 104.25% for £100,000 or more.
The fund is managed by Friends Ivory & Sime and will constitute some 61% equities, 29% fixed interest and 10% property. The product will offer an initial commission of 5.25%. There is a minimum investment of £5,000 and a sliding exit fee from 8.5% in the first year to 2.5% in the fifth.
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