New online funds service launched in time for ISA season
Fair Investment Company has launched its brand new funds service enabling customers to take control of their own ISAs and investments and get discounts of up to 100% on initial charges.
"It is ISA season, so people are looking to make the most of their allowances," says Nick Scarrett, head of pensions and investment at Fair Investment Company, "and according to today's Money Mail ‘It's best to buy (Stocks and Shares ISAs) through a discount broker or a fund supermarket,' so Fair Investment's new service couldn't have come at a better time."
He continues, "We want our customers to get a better deal for their money, so not only do we provide exceptional choice, value and service, but we have negotiated preferential terms with individual fund managers - such as Invesco Perpetual, Schroders and Jupiter - to save clients up to 100% on initial investment charges. This means it is cheaper to invest through us than directly through the fund managers and, you get access to our customer services team."
The Fair Investment Funds Service is a funds supermarket which has access to more than 1,300 funds and 90 fund managers. Using the service, investors can consolidate all their ISA and investment funds in one place, track their performance, invest new money and transfer existing investments, as well as gain access to charting tools and fund research.
The service also offers online valuations and access to a performance summary feature where investors can view their payments to date, the value of their investments and their current gain or loss.
"The new service is all about empowering people to make their own investment choices, and with 1,300 funds to choose from, the choice is extensive, but for some people, 1,300 funds is simply too much choice," says Nick.
"So to aid people in their decision making process we have ready-made portfolios, our 20 Popular Funds and our Select 100."
The Fair Investment Funds Service offers a choice of four ready-made portfolios; cautious managed, balanced managed, global managed or income, each is invested in a funds of funds and actively managed by an expert in the specified area.
"Funds of funds sales were at their highest level ever in 2009 at £3.9billion, four times the levels of 2008*. This surge in popularity is why we think it is important to offer fund of funds options to our investors," said Nick.
Fair Investment Company's 20 Popular Funds reflect performance track records and ratings, while the Select 100 funds have been put together by the Fair Investment Company research team based on independent rating agencies, quality of investment management and consistent performance.
In 2009 ISA fund sales were £2.8 billion - the highest since 2001. According to the IMA this is because people are investing in ISAs again following five years where they were withdrawing more from their ISAs than they were investing in.
"This, combined with the fact we are in the run up to the ISA season where investors are wanting to top up and/or transfer ISA balances before April 5th, is why we think now is the right time to be launching a funds service, " says Nick.
The Fair Investment Funds Service is provided in association with the UK's largest independent investment platform, Cofunds. Cofunds hold a 17% share of the UK platform market and have assets under administration in excess of £22.7billion.
Andrew Aitken from Cofunds said; "we are happy to be working with Fair Investment Company, helping people realise that they really can cut out the middle man, and manage their own investments easily and effectively."
For more information, visit fairinvestment.co.uk/funds_service.aspx to find out more about the new funds service.