Key features

Charges & Savings

Initial charge: Most unit trusts and OEICs levy an initial charge. This is a fee payable to the fund manager when you first invest. We have negotiated special terms with fund management companies which allow us to discount most, if not all, of the initial charge for over 1,500 funds.
Initial saving: This shows how much we can save you on the standard initial charge. For instance, if the initial charge was normally 5.25% and we offer a 5% saving you would actually pay an initial charge of only 0.25%. Please remember for unit trusts there may also be a small difference between the buying and selling prices, known as the bid-offer spread. For more details about the way in which savings are calculated see our Guide to Fund Prices, Savings and Yields.
Annual charge: The annual charge is levied by the fund management company to cover the cost of managing funds. They are normally deducted on a daily basis and reflected in the price of the units. This means that you will not see them shown on your statement and you do not need to pay for them separately.
Annual saving: When you buy funds part of the annual management charge is usually shared with your broker through what is known as renewal commission. This makes absolutely no difference to the charges you pay; if you invest directly with the fund manager they simply keep the renewal commission themselves. We use part of the renewal commission to administer your account and return the rest to you by way of loyalty bonuses. Please note the loyalty bonus is not available for funds held through the Vantage SIPP.
Total Expense Ratio: The Total Expense Ratio (TER) represents the total annual costs involved in running a fund. The TER consists principally of the manager's annual charge, but also includes additional costs for other services paid for by the fund, such as the fees paid to auditors, registrars and the financial press.

Aim of the Fund

This details the stated aims of the fund.

Available for New Investment

This highlights whether a fund is eligible for investment within a Vantage ISA, Vantage SIPP and Vantage Fund & Share account.

Other details

Trustee: The bank or organisation responsible for overseeing investors money invested in a fund.
Valuation point: The point at which a funds assets are revalued and a price determined. Most funds value daily at 12:00 although this does vary. Some funds will only value on a weekly or monthly basis.
Minimum investment: The minimum lump sum investment amount for funds bought within Vantage.
Effect of deductions: This indicates how charges deducted from within the fund can affect what you might get back. They are designed to help you compare funds to other comparable within the industry with regards to charges, expenses and overall investment performance. An assumption is made that the underlying investments grows by 6/7% which are quoted guideline yield figures set by the industry. Allowance is made for the annual management charges and other expenses borne by the fund, which include trustee fees and expenses, registrar fees, audit fees and FSA fees. Dealing costs are not included. These figures are only examples and are not guaranteed – they are not minimum or maximum amounts. What you will get back depends on how your investment grows and on the tax treatment of the fund and your own tax position. You could get back more or less than this. Inflation will reduce what you could buy in future with the amounts shown. These figures do not take account of the discounts we offer.
Charges Deducted From: Capital; part or all, of the annual management fee and expenses may be charged to capital this could increase the potential for the capital value of your investment to be eroded but allows the fund to pay a higher level of income. Income; the annual management fees will be deducted from income provided by the fund.

Fund specific risks

This will highlight the fund specific risks for this investment. Please note that if the investment manager moves into different investment areas these are likely to change overtime and so should be reviewed periodically.