Tax problems threaten SEI/Northern Trust link

Scottish Equitable is continuing discussions with Northern Trust in an attempt to overcome the tax difficulties in linking the offshore manager of managers' offering to its UK life product range. The group has links to two Dublin-based Oeics run by Northern trust, which are available via its pension and offshore life links. The problem for onshore life products is the UK dividend stream from the portfolios is treated as an overseas income stream, creating an additional 20% tax charge. Mark Pearson, head of investment marketing and fund development at Scottish Equitable, said a solut...