Pick your Pep with care, but don't miss the deadline

Article Abstract:

Investors who have not yet used any of their 1998-99 Pep allowances have until 05 April 1999 to put up to 9,000 pounds sterling into Peps. The popularity of Peps increased as the government increased annual Pep allowance, but the new individual savings account (Isa) will replace both Peps and Tessas on 05 April 1999, although those Peps that are set up by that time will be able to retain their tax breaks. Most Pep investors will opt for one of a range of pre-packaged unit-trust, investment-trust or corporate-bond Peps, although self-select Peps are for those who wish to build their own portfolios.

Savings

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No easy answer in cheap Peps

Article Abstract:

Self-select Peps vary in costs, the range of investments they use and the number of holdings which are permitted. There should be no initial charge and minimal annual fees, with no extra charge for reinvestments of profit. Investors who move their portfolios around should ensure dealing commission charges are as low as possible. Small investors should avoid Peps which have minimum commission charges. Investors who plan to hold on to their Peps for some time might consider a no-fee Pep offered by two Alliance investment trusts.

Portfolio Management, Financial planning

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