Charles Schwab Europe is looking at joining the list of UK product providers entering the funds supe...
Charles Schwab Europe is looking at joining the list of UK product providers entering the funds supermarket arena
Currently investors can use the Schwab service to purchase most UK funds, however, they are limited in that they must pay the fund manager fees plus an additional payment to cover Schwab's administration costs
The service has not been actively promoted as it does not hold great value for consumers. The company has also been waiting for greater automation within the UK funds industry, in terms of electronic settlement, which would make the venture more practical
A funds supermarket would differ from the group's current service in that it would not feature front-end-loaded funds, and so should appeal more to consumers. Schwab said the service is scheduled for early next year
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