Cosy charge club among indexed Peps: Gartmore has launched a Pep for its stock market tracking UK Index unit trust - but with double the annual charge. It could be argued that Virgin's Pep has set a new standard for higher, not lower charges

Article Abstract:

Virgin, Gartmore and HSBC now make a 1% annual charge for their new Peps, although with low spreads between buying and sellilng prices. Ordinary unit holders in Gartmore UK Index pay an annual fee of 0.5% and the additional charge for the new Pep covers the administration costs. The Gartmore fund has remained close to the index over the past five years.

Open-End Investment Funds, Investment Funds & Trusts, Product introduction, Gartmore Investments Management Ltd.

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Revenue set to tax discount deals: more and more investors are demanding financial advisersand brokers share their commissions on personal pensions, unit trusts, Peps and insurancepolicies. But now the taxman wants a cut

Article Abstract:

A new statement of practice (SoP) fromthe Inland Revenue says that sales commissions on personal pensions or insurance products thatare refunded will be subject to income tax. This may also affect discount deals on unit trusts andPeps from financial advisers. It is more likely to affect investors using fee-basedadvisers.

Purchasing, Pensions

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