Insight Investment is introducing several changes to bring greater uniformity to its retail fund range.
The minimum investment for all its funds will be set at £3,000 from December 3. Initial charges will also move from 5.25%, which applies to many Insight funds, to 4%. Annual management charges will be set at 1.10% for bond funds and 1.5% for equity products.
In addition to this, two Insight funds will change their names to better reflect their investment approach. The Insight Global Equity fund will become the Insight Global Alpha fund while the Insight European Discretionary will be known as the Insight European Alpha. There are also plans to change the way administration charges are recovered.
Other changes include the moving of all valuation points to 12 noon and the closing of the N share class of the Insight Monthly Income Bond fund. The N share includes an exit fee rather than an initial charge.
Charles Farquharson, the head of distribution at Insight Investment, says the changes are part of the group’s plan to harmonise its fund offerings and offer investors consistency.
“We’ve been looking a lot at the retail fund range,” says Farquharson. “We had a situation where we had funds with different valuation points, different annual management fees and different pricing methodologies.
“We thought it was appropriate to make it consistent. [Now] it’s simpler for investors. It’s the same format whichever fund you’re dealing with. [Before] it was potentially confusing for people.”