Fund Supermarket Regular Withdrawals
January 17th, 2007
Fidelity’s FundsNetwork, who power our Fund Supermarket, have just introduced a new facility which we believe will be of interest to many of our clients.
Their regular withdrawal facility allows you more flexibility in planning a regular income from your ISAs, PEPs, OEICs and Unit Trust investments (excluding Fidelity’s Investment Trust Share plan), as well as from offshore funds. The facility is available on both existing holdings and new investments.
There is no charge for this service, and you can choose to have the withdrawals paid monthly, quarterly, semi-annually or annually, directly into your bank account. They are also paid in addition to any income that you may already be taking from the investment.
There is a minimum amount of £50 per fund per withdrawal (and this must be a set amount), and when you start your withdrawals, you must hold a minimum of £1,000 in the fund from which you wish to withdraw.
A word of warning: depending on the level of income you decide to take from your funds, you may see a reduction in the capital in your investment.
If you’d like more information on regular withdrawals, and to request the necessary forms, please get in touch with our Investments Team.
Author: Philippa Gee
January 17th, 2007
Category: Fund News, Investments.
