Fund account explanation?
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vigman
Posts: 1,377 Forumite
Hi
Having not done well picking my own shares and being fed up with the miserable ISA and savings rates, I took some previous advice looking up about various saving funds.
I decided that "MFM Slater Recovery" looked interesting on various recommendations.
However on deciding to look into purchase, I had the choice of MFM Slater Recovery, B, P and FD accounts.
I read the statistics on each, but welcome an explanation of these subgroups in the fund, please?
I was also wondering if I could buy these through XO but this is obviously not possible even though it is searchable and select-able on the XO search engine.
Finally can I put any part of this purchase into an ISA wrapper, and if so how, please?
TIA
Vigman
Having not done well picking my own shares and being fed up with the miserable ISA and savings rates, I took some previous advice looking up about various saving funds.
I decided that "MFM Slater Recovery" looked interesting on various recommendations.
However on deciding to look into purchase, I had the choice of MFM Slater Recovery, B, P and FD accounts.
I read the statistics on each, but welcome an explanation of these subgroups in the fund, please?
I was also wondering if I could buy these through XO but this is obviously not possible even though it is searchable and select-able on the XO search engine.
Finally can I put any part of this purchase into an ISA wrapper, and if so how, please?
TIA
Vigman
Any information given in my posts or replies is intended to be of interest and/or help to members of the forum. I cannot guarantee that this is accurate or up to date.
0
Comments
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I am not familiar with this product of manager but it looks to me like those are different unit classes.
When a manager creates a basic unit trust, all the units have the same terms and conditions (things like initial fee, annual fee, minimum investment being important).
But a manager may want to offer the same product on different terms, with different features, to different people.
To do this, they have to create different classes of units
So a powerful platform that brings a lot of business could get a class with no initial fees and a lower management fee. A staff member might get free management fees. Some units might pay out dividends, others might accumulate them and reinvest.
A quick phone call or email to the company should be enough to clarify; I can't find the info on their website in a systematic way but I would suspect, for example, that Class A is an expensive base class that you would get if you go direct, whilst Class P is for platforms and it has lower fees it seems. Couldn't find FD class and it wasn't clear what B class was about (one of them could be for larger investment sizes, or for institutions)0 -
Ah, this explains the B - it's for the new set-up on the way fund fees work, so they wouldn't sell A units any more anyway - and I was right on the P
http://www.ftadviser.com/2012/12/18/investments/equities/slater-to-launch-clean-share-classes-UpAv7JIpRRJsto7BGJNODL/article.html0
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