M&G to launch new D2C online service offering lower fund charges

All current and future customers invested directly in M&G ISAs and funds will be eligible for the new service, being build by wrap platform specialist FNZ, which will provide a more modern way to manage their investments. Any direct investor with a combined total of £5,000 invested in funds with M&G will also qualify for lower online fund charges. M&G has approximately 190,000 direct investors, of whom around three quarters have portfolios of this amount or higher. The deal means the ongoing charge figure (OCF) for those who choose the online service and have £5,000 in their portfolio...