The group is introducing a new annual charge for using its Vantage
fund supermarket arm from March 1, but has negotiated a cut in the cost of a raft of top funds that will bring down overall fees for investors by PS8m in the first year alone.
Funds sold through the
fund supermarket will be subject to lower fees and commissions than those sold offline, leading to an improvement in return rates.
Prudential's survey reveals that 73 per cent of DIY investors prefer to buy direct from a provider, 12 per cent from
fund supermarkets and 10 per cent from platforms.
Al Rajhi Capital, the investment arm of Saudi-based Al Rajhi Bank (RJHI.AB), has announced the signing of a distribution agreement with Derayah Financial, the largest mutual
fund supermarket in the Middle East.
Al Rajhi Capital, the investment arm of Saudi-based Al Rajhi Bank, has announced the signing of a distribution agreement with Derayah Financial, the largest mutual
fund supermarket in the Middle East.
As per the deal, Derayah will be distributing Bakheet's funds to individual investors through its website, which is the first mutual
fund supermarket in the Middle East.
The new agreement will enable Derayah to distribute NCB Capital's mutual funds to individual investors through its website www.derayah.com, which empowers individuals to invest in the first and largest mutual
fund supermarket in the Middle East This agreement is part of NCB Capital's continuous expansion to enhance the availability of its products and services and to boost the distribution channels of its investment funds to individual investors.
This agreement confirms Derayah's position as the first mutual
fund supermarket in the Middle East.
recently conducted a review of
fund supermarkets and several brokerage firms that sponsor
fund supermarket programs.
Q WHAT is the advantage of a
fund supermarket as opposed to investing directly with the one ISA fund manager?
Most people invest their ISA money monthly but, if you have a lump sum waiting to go into a shares account, it's worth approaching a
fund supermarket as their initial charges are much cheaper than going direct to an ISA provider.
Craven, who runs the
fund supermarket Willis Owen, warned that the pounds 300 billion with-profits pensions and endowments business could turn into ''a national nightmare'' for millions of pensioners and savers.