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18 March 2003
'Spring Cleaning your Finances' with
The Scottish Investment Trust PEP transfer facility
18 March 2003: Spring is traditionally the time to clear out the clutter, clean, tidy and re-organise. This spring, markets are depressed, political uncertainty continues and investor confidence has been seriously shaken. So what's spring cleaning got to do with it? Periods of volatility such as those we are currently experiencing are an ideal time for investors to consider the spread of risk and opportunities across their portfolio. One area often neglected is that of PEPs.
The Scottish Investment Trust, one of the largest global growth trusts, is offering investors an opportunity to spring clean their PEP portfolio with The Scottish Investment Trust (SIT) PEP transfer facility. The facility has no initial plan transfer charges* and a very competitive low annual management charge of just £30 + vat. These charges remain constant no matter how many SIT PEPs are held or how much your PEP investment grows.
PEP legislation now gives investors far greater freedom and flexibility than they had before. Any percentage of a PEP can be switched to funds investing anywhere in the world to take advantage of global markets. Also both single company and general PEPs can now be amalgamated and invested as required for maximum effectiveness. Difficult markets and the need to lower risk and maximise investment opportunities available may mean that single company PEPs - where risk and return are tied solely to the performance of one company - are no longer suited to some investors' risk profiles.
The SIT PEP offers investors a highly attractive combination of low charges and a solid long-term performance record. As a global generalist trust, SIT's investment strategy spreads risk over a wide range of countries and market sectors allowing the widest possible search for investment opportunity and return.
- Free PEP Transfer Facility - There is no transfer-in charge on The SIT PEP*.
- Easy administration - Investors receive a twice-yearly report on their PEP's performance.
- Flat rate management charges - this means that as your PEP grows in value your charges don't.
- Easy application process - SIT offers several application options. Investors can apply by downloading the application form available on the SIT website (www.sit.co.uk) or requesting the information pack by contacting SIT on 0800 42 44 22 or by asking their IFA.
Sherry Ann Sweeting, Marketing Manager, Scottish Investment Trust says, "There are many benefits to spring cleaning your PEP portfolio especially during such difficult markets. It will enable you to bring your portfolio in line with the current market conditions and your own circumstances - which may have changed since your PEPs were first set up - for example a need for income rather than purely growth perhaps due to retirement, or an increased or decreased tolerance to risk. Also, consolidating your PEP investments with fewer managers can reduce your administrative and paperwork burdens and impact significantly on your overall costs".
* Please note, whilst SIT makes no charge for transfers in, the previous PEP manager may impose a charge for administering the transfer out. External expenses (government stamp duty of 0.5% and dealing spread averaging an estimated 1.2%) apply
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