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The rebate detiails can be found on the summary tab of the Newton B factsheet. Ongoing charges 1.11% with a 0.50% annual rebate. That said I am awaiting the 28 Feb dividends, which I hope will be paid without any further problems due to the conversions....but I won't hold my breath!0
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The rebate detiails can be found on the summary tab of the Newton B factsheet. Ongoing charges 1.11% with a 0.50% annual rebate. That said I am awaiting the 28 Feb dividends, which I hope will be paid without any further problems due to the conversions....but I won't hold my breath!
Ahh, thanks for that. I didn’t find the factsheet for ‘B’ units. If they do indeed rebate the difference in charges then that’s okay.
I haven’t demanded that they change my units to ‘W’, just queried that they don’t seem to have converted my holding to the cheapest units. Once I know I’ll post the answer.
I haven’t received any 28th Feb dividends either, but they have been paying them within ten working days for a while (and usually faster), so I’m not fretting yet…0 -
My OH has had his Invesco Perpetual Monthly Income Plus units in his SIPP converted into Z income units (although still waiting for Invesco to confirm that II has done it right) - except he already holds the Z Gr units.
You'd have thought they'd have converted it to the same ones!0 -
I am so grateful to Nocto for pointing out that we should check whether II have converted our funds into the clean class with the lowest charges available, as that is something I would never have thought to do. It is great that we have this forum to enable us to all help each other out. I have time consumingly trawled through all my funds now and as well as 3 Newton funds I have found that my holding in Marlborough Special Situations has been converted into B class with charges of 1.05% when there is a P version available charging 0.80%. I never imagined there would be all these different clean versions, I assumed there would just be the one option so I never looked into it. As people have mentioned, the Newton Global Income B version apparently has a rebate of 0.50% which would make its net charges the cheapest but I can't imagine they will be continuing to offer that rebate - is it the beginning of April they are all stopping? I will be raising the issue of these 4 funds with them on Monday and asking them if the rebate on the B version will be continuing, if not I will ask them to change my holding to the W version and my other Newton funds too.0
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This forum has proved very useful - though I doubt II are quite so keen on it..!
I’ve now found the Newton Global Income ‘B’ factsheet. I didn’t realise that clicking on the holding in my account displayed it. I was using ‘fund search’ without logging in.
Anyway, I wonder if they really do still pay some sort of rebate on this fund? I have my doubts, and 0.5% seems rather high for a clean(ish) fund.
However AJ Bell are still listing rebates for a few of their clean funds. Their factsheet for Henderson Asian Income I Inc claims to rebate 0.05%, so perhaps it’s possible. Whilst ‘commission’ rebates are being stopped, I wonder if rebating other fees is still allowed?
My gut feeling is that the 0.5% rebate is a misprint, or a relic from the past, and II just haven’t converted our funds to the cleanest units available, but I will be very happy to be proved wrong as ongoing charges of 1.11% with a 0.5% rebate is a great deal - which would be nice for other funds too… (Please II?;))0 -
if they have converted to a fund other than the cleanest available, what can be done about it? request them to convert it again?0
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I can't see how a fund that pays any kind of trail commission (which would be the source of a rebate) could be regarded as clean class. The RDR was expressly meant to get rid of that.0
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agreed masonic.
i have been slack re. my investments with iii, but i do want to ensure that i'm in the right fund classes.0 -
agreed masonic.
i have been slack re. my investments with iii, but i do want to ensure that i'm in the right fund classes.0 -
I, too, am glad that I switched into clean funds myself after moving over to II a couple of years ago.
Another dividend has now turned up - just two to come!0
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