Halifax offers 80% cashback on annual management charges
Halifax Share Dealing has launched an exclusive fund discount delivering significant savings for investors. The offer comes at an opportune time for those looking to maximise this year's ISA allowance in a Funds ISA before tax year end.
From today, investors in the SWIP Diversified Assets Fund will benefit from:
Initial charge reduced from 4% to 0.1%.
Annual management charge reduced from 1.25% to 0.25%
By selecting the SWIP Diversified Assets fund, customers can be relieved of the burden of balancing their own portfolio. The fund invests in a range of investments across different asset types and geographic regions, with an aim to achieve a return in excess of the Bank of England base rate.
Customers selecting the product will receive the reduction to the annual management charge on a refund basis throughout the year. For example, customers that invest £10,000 will receive £25 per quarter, as long as the value doesn't decrease.
The discounts mean that an investor who invests £10,000 in this product and holds it for five years will pay £135 with Halifax Share Dealing, compared to at least £625 with other leading providers.
Those that select the fund within their Funds ISA will be able to benefit from the significant discounts whilst also investing tax efficiently.
Damian Stansfield, managing director of Halifax Share Dealing explains, "With such a significant reduction in the charges for those investing in this fund, we're offering customers a chance to diversify their portfolio and maximise the money going into their investment.
"Opening a Funds ISA is a very savvy way to invest tax-efficiently, and a great way to take advantage of this offer."
Francis Ghiloni, Director of Distribution and Client Management at SWIP comments: "With a view to maximising flexibility for investors, SWIP is delighted to offer Halifax Share Dealing customers access to the SWIP Diversified Assets Fund at competitive market rates. Investing across a diverse range of asset classes, we believe this fund offers ISA investors the opportunity for long-term capital growth."
The current annual ISA limit is £10,680 and the full amount can be invested in an investment ISA. However, customers who invest the maximum £5340 in a cash ISA can also invest the remainder in an investment ISA. Customers can also transfer existing ISA funds to this product.
The reduction in charges is exclusive to Halifax Share Dealing customers. Customers that already hold the fund will also be entitled to the annual management charge cashback.
The Halifax Share Dealing customers can currently choose from 2700 funds.