NU closes fund supermarket

Professional Adviser
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Norwich Union has shut the doors of its online fund supermarket after attracting just 250 customers ...

Norwich Union has shut the doors of its online fund supermarket after attracting just 250 customers since it launched 12 months ago. Investors have until 6 May to transfer their existing holdings to another Isa manager and any failing to do so will have their Isas closed and the cash returned to them. Norwich Union will continue selling its own funds through its website and those holding Norwich Union Isas will be transferred into the Norwich Union online Isa service. The fund supermarket, which offered 70 best of breed funds from a range of fund managers, was part of a £230m dash into ...

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