Sterling and Baillie Gifford have both launched Pep transfer plans ahead of changes to Pep investmen...
Sterling and Baillie Gifford have both launched Pep transfer plans ahead of changes to Pep investment regulations on 6 April allowing investment remits as broad as for Isas.
Baillie Gifford is relaunching its Investment Trust and Oeic Pep Transfer products.There is a 2% discount on the Oeic Pep's initial charge of 5% for all transfers before 4 July 2001. The investment trust plan has no initial charge.
Sterling has also brought out a Pep Transfer Plan, allowing clients to consolidate their holdings and chose from across Sterling's range of 59 funds.
The annual charge for investments up to £14,999 is 0.5% for all Threadneedle fund links and 0.75% for external fund links. The initial charge for all investments is 4.75%. Commission is available to IFAs at 6.25% or 4% initial and 0.5% trail, which can be waivered.
Sandra Lymburn, investment marketing director at ZIFA, said: "It is likely that Peps taken out in the early years no longer address the needs of investors whose circumstances have since changed. A client who has invested in Peps every year could end up holding a hotch-pot of investments that are difficult to administer, monitor and consolidate.
"Clients find it easier to understand one statement detailing their returns than several statements from different investment houses."
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