Provider Skandia MultiFUNDS Limited. Product MultISA (Maxi version). Maxi ISA Product Th...
Skandia MultiFUNDS Limited.
MultISA (Maxi version).
Maxi ISA Product
This is the Maxi ISA product.
CAT (Cost, Access, Terms) standard option available The Skandia MultISA does not meet the Government CAT Standard.
Unit Trusts/OEICS available within this product There are 279 funds available for investment:
Investment Trusts available within this product Investment can be made into Jupiter fund of Investment Trusts.
Shares available within this product No
Own choice of underlying investments allowed
Corporate Bond ISA available
The Corporate Bond Funds available are:-
Aberdeen Sterling Bond
Britannic Corporate Bond
Fidelity MoneyBuilder Income
Framlington UK Bond
INVESCO PERPETUAL Corporate Bond
Investec Sterling Bond Portfolio
M&G Corporate Bond
Old Mutual Corporate Bond
Schroder Corporate Bond
Threadneedle UK Corporate Bond
Minimum Stand Alone Single Premium
The minimum stand alone single premium investment is £3,000
Minimum top-up premium £ The minimum top-up premium is £500.
Minimum monthly premium £ The minimum monthly premium is £99
Total Initial Charge (%) for lump sum investments The inital charge for the Skandia MultiISA is 4.5%. Any initial charges levied by the underlying funds are heavily discounted - at most 0.25% in all cases
Total Initial Charge for monthly investments (%) The inital charge for the Skandia MultiISA is 4.5%. Any initial charges levied by the underlying funds are heavily discounted - at most 0.25% in all cases
Annual Fund Management Charge % Skandia makes no AMC in the first year. Thereafter the AMC may vary between 0.21% to 1.89% depending on the fund selection from the underlying funds. An additional charge of 0.5% will be levied for investments of less than £10,000.
Charges Levied for Surrender (£)
No surrender charges are levied.
Additional Fee For Transfers In
There is no charge for transfers into MultISA.
Additional Fee for Transfers To Another Manager
Transfers to other ISA Managers are not subject to an additional charge.
Dealing Charge %
No dealing charge is levied.
Number of Funds Available
There are 279 funds available for investment from the following providers;
ABN AMRO /Artemis
Option to Switch Funds or Securities
Investors may switch between investment funds. Skandia does not charge for switching.
All switches are free.
Switching charge Skandia does not charge for switching although there will be a discounted bid/offer spread.
Minimum Value Allowed to Remain in ISA After a Withdrawal The minimum residual fund value following a withdrawal is £500.
Guarantee applies No guarantee applies.
Share Exchange Available
There is a share exchange scheme available.
Option to Phase Investment Into the plan
Phased investment is available from any feeder fund into any other target in equal amounts over 3, 6 and 12 months. Portfolio rebalancing is also available at regular intervals of 3, 6, 12 or 24 months.
Option to Have Income Paid Out of the plan
Income options are very flexible. Clients can choose whether they would like to take a percentage of account value, a fixed amount, or distribution of income. These options are available in any month(s).
Monthly Income Option Available
There is a monthly income option available.
Cooling Off/Cancellation period
No cooling off or cancellation rights apply.
Life assurance option available for Maxi ISA
There is no life assurance element available.
Cash option available for Maxi ISA
There is no cash ISA element available.
Commission options available
The following commission terms are available.
Paper Applications 3% + 0.5% pa (renewal commission).
Online Applications 3.5% + 0.5% pa (renewal commission).
Paper Applications 4.5% (one off commission payment)
Online Applications 5% (one off commission payment).
Speaking at Professional Adviser's conference
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TISA's Peter Smith
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