The Orbitex Exempt Balanced Fund and the recently launched Orbitex UK Equity Pension Fund are to be ...
The Orbitex Exempt Balanced Fund and the recently launched Orbitex UK Equity Pension Fund are to be included in the latest James Hay Select Sipp product.
The Sipp was launched on 1 November and will be sold exclusively through intermediaries.
It offers a selection of investment funds from Aberdeen Asset Management, Baillie Gifford, Dresdner RCM, Gartmore, Invesco, Merrill Lynch Investment Managers, Newton, Orbitex, Prudential M&G and Standard Life Investments.
For a fund value of £100,000, the annual management charge is £750.
For a fund value of £200,000, the charge is £1,500. A £500,000 fund will have a charge of £3,750.
The annual management charge is included in the fees/charges.
IFAs can choose any commission rate up to 3% on the Select Sipp. If 1% commission is taken, the allocation to funds will be 99%.
With 2% commission, the allocation to the funds is 98%, while allocation to funds will be 97% with commission of 3%.
There is no bid to offer spread on the Select funds.
Fund based commission up to a maximum of 0.5% can be combined with any amount of initial commission.
If 0% fund based commission is taken per annum, there will be a yearly fund based charge of 0.75%.
The annual management charge will be 1% with a fund based commission of 0.25% and a charge of 1.25% will accompany a trail commission of 0.5%.
The Orbitex UK Equity Pension Fund, which has a concentrated portfolio of between 30 and 50 stocks, is aimed at the UK institutional pension fund market, as well as the Sipp and SSAS market.
The fund, which is managed from London, invests in stocks quoted on FTSE, AIM, Ofex and the Irish stock market.
Robin Geffen, the Orbitex chief investment officer, oversees the asset allocation.
Geffen also oversees the asset allocation for the Orbitex Exempt Balanced Fund, launched in March of last year, which aims to offer active management on a global perspective with, again, a portfolio of between 30 and 50 stocks.
Courtney Smith, the US chief investment officer, provides the US strategy and technical analysis.
The fund is supported by a team of 10 fund managers.
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