James Hay adds L&G fund to Wrap and SIPP platform

James Hay has added the Legal & General (L&G) UK 100 Index Trust to both its Wrap & SIPP fund platforms.

The total number of funds now available on James Hay Wrap totals 1,324 funds from 57 different providers and the number of funds on its Collect SIPP Platform is 1,019 from 45 different providers.

The L&G UK 100 Index Trust tracks the FTSE 100 index. The fund is one of nine L& G trackers and features no initial charge and a low annual management charge of 0.5 per cent.

Shaun Sandiford, Director, Key Accounts, James Hay said: “IFAs are increasingly offering their clients a blend of passive and active funds to achieve the correct risk/ reward balancing within portfolios. We are delighted to offer this tracker from L& G, one of the best known financial brands in the UK.”

Investors using James Hay Wrap can now choose retail and institutional funds, OEICS (Open Ended Investment Companies) and Unit Trusts at competitive and preferential terms. Together, the James Hay SIPP and Wrap businesses have over £13 billion under administration.

James Hay Wrap offers free fund switches and automatically returns rebates to client accounts. Unlike many competitors, James Hay has a philosophy that supports “any fund, in any tax wrapper at any time” and has no preferred fund houses or Investment styles. Advisers can buy any fund they and their clients choose.