Safety-first funds lead bond Pep race

Article Abstract:

UK corporate bond personal equities plans (Peps) are being launched following changes in tax rules covering these products by the UK Treasury. Two companies launching such funds are Johnson Fry, and Legal and General which offer guaranteed returns. The UK market for bond Peps will be worth some 6 billion pounds sterling annually by 2000, and companies are competing fiercely for a stake in this market. Over 25 Peps are planned following the announcement of tax changes.

Tax administration and procedure, Tax administration

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Picking the perfect Pep

Article Abstract:

Investors interested in bond personal equity plans (Peps) can gain a tax-free income which outperforms that given by building societies. Investors can choose between investment trusts and unit trusts and should consider their willingness to assume risk. Guaranteed Peps offer less risk. Growth of capital is not guaranteed though the capital is. The past record of the fund manager is important, as are the charges, since high charges can mean that capital is eroded.

Taxation, Securities, Securities taxes

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Unit trusts: disclosure rules under fire

Article Abstract:

The UK Personal Investment Authority (PIA) has issued disclosure rules affecting unit trusts which have to set out commissions and charges clearly for investors. The industry is critical of the rules and they could be changed prior to being implemented in May 1997. Unit trusts are continually changing their charging structures which makes comparisons between trusts difficult. There are also doubts as to how rates of assumed growth should be measured

Investment Offices, Laws, regulations and rules, United Kingdom. Personal Investment Authority

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