HL Conversion options?

Drp8713

jimjames wrote: »

I'd assumed that after April everyone gets the "loyalty bonus" as HL have to refund any fund manager commission after that date.

It doesn't seem to say on the loyalty bonus page so im not sure.


Either way I would prefer less charges on my holdings rather than cash, even if the cash is slightly higher.


But my investments since I started in September are only a few grand so the difference will be peanuts for me, whereas it could make a big difference for others.

Drp8713

ColdIron wrote: »

I notice thy are quoting the pre-RDR figures in From and not the current Inclusive figures

Pre RDR this was 1.75 - 0.375 = 1.375
Inclusive this is 1.75 - 0.75 + 0.45 = 1.45
Unbundled 1.00 + 0.45 = 1.45

So by my reckoning this one is actually more expensive than it was

Feel free to correct me

You are correct, if you take off the loyalty bonus, as far as I was aware I wasn't getting the bonus as my holding was less than £1000, although this may have changed it is not clear at the moment.

ki707

ColdIron wrote: »

I notice thy are quoting the pre-RDR figures in From and not the current Inclusive figures

Pre RDR this was 1.75 - 0.375 = 1.375
Inclusive this is 1.75 - 0.75 + 0.45 = 1.45
Unbundled 1.00 + 0.45 = 1.45

So by my reckoning this one is actually more expensive than it was

Feel free to correct me

Isn't the 0.45 account fee applied to all units - i.e. both inclusive and unbundled units?

*Ignore this, just re-read your post!

ColdIron

Drp8713 wrote: »

You are correct, if you take off the loyalty bonus, as far as I was aware I wasn't getting the bonus as my holding was less than £1000, although this may have changed it is not clear at the moment.

I'm with jimjames, I think they should rebate all loyalty bonuses as otherwise they are withholding commission but I haven't seen that stated anywhere

Some funds are quite a bit better off unbundled

Troy Trojan Pre RDR
1.50 - 0.00 + 0.00 = 1.50

Troy Trojan Inclusive - Class I
1.50 - 0.50 + 0.45 = 1.45

Troy Trojan Class O - Unbundled
1.00 - 0.25 + 0.45 = 1.20

Ximian

I hold 8 funds and all but 1 appear to have the same charges when comparing inclusive with unbundled. I need to do some calculations though to get the true cost/savings when including loyalty bonus and without loyalty bonus to see if it's worth switching to unbundled.

Link to fund comparison tool: http://www.hl.co.uk/funds/wealth-150/plus/fund-comparison-tool

PippiShortsock

ColdIron wrote: »

I'm with jimjames, I think they should rebate all loyalty bonuses as otherwise they are withholding commission but I haven't seen that stated anywhere

I've just spoken to them about something else and I asked about the loyalty bonuses. They said that they now apply to all holdings.

Drp8713

ColdIron wrote: »

I'm with jimjames, I think they should rebate all loyalty bonuses as otherwise they are withholding commission but I haven't seen that stated anywhere

That makes more sense I suppose and seems a bit fairer.


The difference for that fund as an example is 0.075%. So per £1000 we are only talking a difference 75p anyway.


I assume that is the goal to make it so there is not much in it so its fair for everyone .

joerugby

Drp8713 wrote: »

Does anybody have


JPMorgan Global Equity Income Inclusive - Class A - Income (GBP)
Annual management charge: 1.50%
Loyalty bonus: 0.10%


This fund is not currently available for conversion. For further information please contact us.


It says I cant convert yet they do have a clean version http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/j/jpm-global-equity-income-class-c-gbp-income


Anybody found any unconvertibles?

I have this fund via HL and it's showing as AMC 1.5%, loyalty bonus 0.75%, net annual charge 0.75%

joerugby

Ximian wrote: »

I hold 8 funds and all but 1 appear to have the same charges when comparing inclusive with unbundled. I need to do some calculations though to get the true cost/savings when including loyalty bonus and without loyalty bonus to see if it's worth switching to unbundled.

Link to fund comparison tool: http://www.hl.co.uk/funds/wealth-150/plus/fund-comparison-tool

Remember that loyalty bonuses are currently considered by hmrc to be taxable

koru

joerugby wrote: »

Remember that loyalty bonuses are currently considered by hmrc to be taxable

Although this only matters outside an ISA or SIPP.