premier portfolio bond updates fee structure to remain competitive
Norwich Union International is to revamp the charging structure on its Premier Portfolio bond in a bid to become more transparent and competitive. Effective from 31 October, a portion of the annual management charges on the underlying external funds will be rebated. Amanda Wilson, senior marketing manager at Norwich Union International, said the rebate would accrue daily and would be credited quarterly to the client's cash account. The extent of the AMC rebate varies according to the individual funds. For instance, the Aberdeen Global Opportunities fund has an AMC of 1.5% and TER of 1.85...
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