Chartwell/theinvestorcentre.com ANY HELP PLEASE?

dizzydux

I originally took out my few investments via a local broker, but on Martin's advice I transferred tthe Agency to Chartwell for trail commission rebate.

Now they are changing the way they operate & I have to return the form they sent regarding changing to theinvestorcentre.com and holding my investments with cofunds, in order to continue getting a rebate.

I have always dealt directly with M & G, Fidelity, etc regarding withdrawals etc, and am not very sure about having all the holdings in Cofunds.
Any advice please?
I can't be the only person who is confused by this change?

It's not like Transact, is it? They seemed to have higher fund charges.

dunstonh

and am not very sure about having all the holdings in Cofunds.

why?

It's not like Transact, is it? They seemed to have higher fund charges.

They are not like transact. Transact is a wrap. Cofunds is a fund supermarket. Cofunds have exactly the same charges as where you have your funds now and actually can be cheaper in many cases on initial charges. AMCs are the same across the board.

dizzydux

Thanks for that - I know it's silly but I just felt uncomfortable about changing from the familiar - I have always held investments individually, dealing directly with M & G, etc for withdrawals and other stuff.

If I change, then all the holdings will be in Cofunds name & then I have just one account with cofunds? Is that how it works.

and If it's not a daft question , will dividend vouchers still be issued by each fund, or do cofunds issue something?

dunstonh

If I change, then all the holdings will be in Cofunds name & then I have just one account with cofunds? Is that how it works.

There are two levels with funds nowadays. One of the administrator level and the other is the investment level. If you use M&G, for example, then M&G do both bits. If you use cofunds, then cofunds do the administration bit and M&G do the investment bit.

Assuming you have multiple funds across the fund houses, the cofunds statement would have a page listing the funds and a total. So, one statement instead of several. You then get pages for each fund showing distributions, purchases, sales etc.

There is no difference at all with distributions. They can come to you or be reinvested. You will get the tax vouchers from cofunds for each fund where applicable.

Whereas in the past everything was done with the individual fund houses, nowadays virtually everything goes with a fund supermarket.

There are also some good reporting options on cofunds for your holdings. You can get a combined x-ray report showing overall performance details, stock overlaps, regional holdings, risk rating etc all on one page.

dizzydux

Thanks, you're a star.

I feel much happier about it now.