Legal & General F, R and I class units

Tammer

Hi,

I hope you can help.

Prompted by a baffling leaflet from L&G in with my ISA statement, I noticed that the UK Index trust has an AMC of 0.4% for R class units and half that for F class.

F class is the clean share class version of the trust for post RDR business.

I am invested in R class units and do not have an adviser.

Do you think I could convert my units to F class?

barak

Not sure that you can - best to phone them and ask. The following may explain why you have R class units.

4.2
Investment
(A)
Where a Unit Trust has more than one Unit Class, your
Payment will be processed as follows:

I.
Where we receive the Application or instruction
from an Adviser, unless we are otherwise informed
by them or by you, we will assume that you have
received advice and therefore you will be invested in
F class Units.

II.
Where we receive the Application or instruction
from an Adviser and we are notified you have not
received advice, you will be invested in R or A class
Units as applicable to the Unit Trust.

III.
Where we receive the Application or instruction
directly from you, but you mention an Adviser,
or your instruction relates to a currently advised
holding, we will use our reasonable endeavours to
determine through you or your Adviser whether you
have received advice regarding your investment(s).

If you have received advice, you will be issued F
class Units. If we are unable to obtain a response
we will return the instruction to you.

IV.
Where we receive the Application or instruction
directly from You and we have no evidence to
suggest that you have received advice from an
Adviser regarding such investment(s), you will be
issued with R class Units.

https://www20.landg.com/DocumentLibraryWeb/Document?lgrouter=CommApp&targetApp=MANAGEYOURACCOUNT_DOCUMENTLIBRARY_ENTRY&reference=terms.pdf

Tammer

Thanks. I think i'll write to them.

SnowMan

On the surface it appears that the Legal and General I (institutional) class of trackers are available through Sippdeal. These have lower charges than the F class.

It would be interesting to hear if anyone has successfully purchased these.

The OCFs on these are very low. Of particular note the Pacific (exc Japan) I class tracker has an OCF of 0.22% pa which is only matched by the equivalent Black Rock D class tracker (which also seems on the surface to be available through Sippdeal as are a range of Black Rock D class trackers).