Allied to cancel transfer charge

Allied Dunbar has removed the initial charge on Pep transfers it arranges into sister company Threadneedle's funds, writes Leo Bland. The initial charge of 3.75% is being removed from Pep transfers into Threadneedle's Oeic funds as well as its range of managed unit trusts. The offer applies to Pep transfers written through Allied Dunbar's franchise network. The Pep transfer market is worth around £2bn a year in terms of business volumes. Allied Dunbar and Threadneedle are both part of Zurich Financial Services Group along with Eagle Star, Sterling and Zurich Life. Threadneedle has a rang...