Dirty Funds Without Discount

Chickereeeee

I have holdings with several platforms, and some (eg Fidelity, HL) provide a rebate/loyalty bonus for any dirty funds that I still hold.

However, others (e.g. iWeb) do not provide a rebate, as far as I can see. Are they therefore pocketing the money until they get around to converting all my funds to clean class?

dunstonh

I have holdings with several platforms, and some (eg Fidelity, HL) provide a rebate/loyalty bonus for any dirty funds that I still hold.

There shouldnt be any loyalty bonus. It should be a straight rebate. Although they have until April 2016 to change it.

However, others (e.g. iWeb) do not provide a rebate, as far as I can see. Are they therefore pocketing the money until they get around to converting all my funds to clean class?

Are those other platforms on bundled pricing still? i.e. are you comparing like for like?

Chickereeeee

It is confusing as iWeb dont have charge for holding the fund, but e.g. YouInvest do.

So eg HSBC American Index Acc (Dirty) Ongoing Charge is 0.28%, with no discount. The equivalent Clean fund has Ongoing Charge of 0.17%

Thats it for iWeb, no additional charges.

YouInvest rebate 0.1% of the annual charge for dirty funds, but charge 0.2% pa (max £50 pq) holding fee.

So it seems iWeb are better off if I stay Dirty...

jamesd

HL don't even refund the whole commission for their "unbundled" funds. There's at least one where their commission cut after rebate actually increases by 0.1% if customers change from bundled to unbundled.

Aberdeen Latin American Equity Accumulation. Bundled is class A SEDOL B41QSW2 which has AMC of 1.75%, commission 1.05% and rebate 0.75% so HL gets 0.3%. Unbundled is class I (institutional, not clean!) SEDOL B4R0SD9 with AMC 1%, commission 0.4% and no rebate.