JP Morgan Fleming Asset Management is launching its Investment Trust Personal Pension Account, the f...
JP Morgan Fleming Asset Management is launching its Investment Trust Personal Pension Account, the first of its kind since the introduction of the DC pensions regime on 6 April.
For investments into the account, there is a minimum investment of £1,000 gross lump sum per investment trust or cash fund. The minimum for regular saving is £100 gross per investment trust or cash fund per month.
Peter Hiscock, pensions product development manager at the group, said: 'Since the introduction of the pension tax and contribution structure in April, the Government is encouraging more people than ever to save for their retirement.
'This makes it straightforward for people to invest with none of the complex bells and whistles associated with the traditional pension products.'
The product has a choice of three of the group's most popular investment trusts, Fleming Managed Growth, Fleming Claverhouse and Fleming Overseas, as well as a Cash Fund option.
The account has no annual administration charge and a dealing charge of only 0.3%, plus a 0.5% Government stamp duty payable on all purchases excluding the Cash Fund.
Hiscock said: 'Fleming Claverhouse and Fleming Overseas can be used to control the amount of exposure to UK and overseas markets very effectively.'Investment Week 11 June 2001
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According to Cicero report
Adds 24 staff, three offices and £275m AUA