Switching to life

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Life funds get a lot of bad press, particularly from fans of mutual funds, who tend to prefer the 'c...

Life funds get a lot of bad press, particularly from fans of mutual funds, who tend to prefer the 'cleaner' tax structure of authorised unit trusts and open-ended investment companies. The reasons for this preference are valid but the arguments are not always straightforward. In certain cases life funds can prove very flexible and attractive from the tax point of view, particularly for long-term investors looking for retirement planning vehicles outside of their pension arrangements. To help clarify the tax position we asked the consultant Watson Wyatt to analyse the treatment of the ons...

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