Ascentric to roll out wrap

The Fundsdirect Ascentric wrap platform will be rolled out to the whole of the market by the end of May, following the successful soft launch of the group's platform. The wrap platform will be available in Scottish Equitable International (SEI), Axa International and Friends Provident International (FPI) offshore bond ranges. It consists of 1,400 funds from 80 different fund groups and its offshore bonds will be a mix of cash and collective products. A charge of 25 basis points for the wrap will be levied to clients, however, this could be reduced as rebates are given by fund managers...