Lloyds TSB is launching a version of its Equity, Fixed Interest and Money funds in Malta. The range w...
According to Bron Lysiak, intermediary development manager at Lloyds TSB, the group will target investors from southern Europe and northern Africa, as well as Maltese investors. The newly registered offshore funds are available for lump sum investments of $1,500. The equity and fixed-interest funds offer the option to invest from £100 per month.
Clients of the equity funds will pay an initial charge of 5%, with 1.5% annual management fee. Clients of the fixed interest funds will pay an initial charge of 3% and 0.85% annual management fee. Commission to intermediaries is negotiable
There is no initial charge for the money funds and the annual management fee is 0.8%, and switching between currency classes is free.
The funds will be managed by the Lloyds TSB Offshore Fund Managers and Lloyds TSB Fund Managers (Guernsey), both subsidiaries of the Lloyds TSB group.
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