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  • Paulrm71
    Paulrm71 Posts: 55 Forumite
    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!
  • Nocto
    Nocto Posts: 177 Forumite
    Paulrm71 wrote: »
    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…
  • LHW99
    LHW99 Posts: 5,245 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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!
  • juliamarsh
    juliamarsh Posts: 365 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    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.
  • Nocto
    Nocto Posts: 177 Forumite
    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?;))
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    if they have converted to a fund other than the cleanest available, what can be done about it? request them to convert it again?
  • masonic
    masonic Posts: 27,324 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    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.
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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.
  • masonic
    masonic Posts: 27,324 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    planteria wrote: »
    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.
    I consider myself fortunate now that when I moved to III I decided to tear up my portfolio and start again, mostly investing into investment trusts, with a couple of ETFs on the side. I only retained a couple of old dirty class funds, which I self traded into the clean class (since it seemed like even with rebates the dirty classes were coming up short in terms of net performance). All of this was done with the free trading credits from switching (and some of the compensation I got from complaining about the service).
  • xylophone
    xylophone Posts: 45,628 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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!
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