"I'm not surprised to hear they're reviewing things. He said that a radical reduction in fee "would be a really positive thing". Wealth tracker youtube how to#To take advantage of investors who are likely investing for the first time, and don't know how to compare costs, is extremely poor." Mark Polson, of specialist consultancy the Lang Cat, said: "It has long been the case, in our view, that the Virgin tracker is the poster child for things that are not good in fund management. The tracker generates fee income of more than £25m a year for the company, and accounts for the vast majority of its total assets under management. “When we are ready to introduce changes to our proposition we will inform our customers directly and announce them accordingly,” the spokesperson added. "I think it would be premature for me to say exactly what will happen, as clearly we need to work this through with our new partners.” They said: “We will work out what to do with our existing proposition as part of the overall planning and work we will do with Aberdeen Standard Investments between now and launching a new offering in 2019. Virgin Money recently announced a joint venture with Aberdeen Standard Investments, which will involve Aberdeen Standard Investments managing the £3.7bn in assets held by Virgin's 200,000 retail customers.Ī spokesperson for Virgin said the partnership with Aberdeen Standard Investments will allow the company to "transform" its investment offerings, and provide “access to a broader range of funds at a competitive price”. This is in comparison to iShares UK Equity Index fund, which does the same thing and charges just 0.06pc. It costs 1pc annually to invest in Virgin’s FTSE All-Share tracker fund, which mimics the performance of the All Share index. This week new rules were announced by the City watchdog that will require firms to explain the value that their funds offer on a regular basis. Just say “Manage My Spending” 3 times, andĬlick below for the book medium you prefer to read.Virgin Money is planning to overhaul its controversial £2.7bn tracker fund, which charges investors 17 times the fees of comparable alternatives. The Money Tracker is your tool for getting Manage your spending and get back on the track to financial peace of mind. Use the “Splurge Diary” and “Victory Diary” to uncover and change old habits and patterns no longer serving you.
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