AWD Chase De Vere reveals bond churn fears

Coyte believes that investors may be being encouraged to churn their bond holdings, simply to deliver additional commissions to brokers. He said: "Investors being told to switch out of insurance bonds on the sole justification of the Budget tax changes are being duped. "It could take up to nine years for a basic rate taxpayer using a bond to provide income to recoup the additional charges incurred by switching to a slightly more tax efficient collective with the same underlying asset allocation. "It's not quite as bad for those investing for growth, but even here the additional charge...