X hits on this document

35 views

0 shares

0 downloads

0 comments

10 / 15

international premier portfolio technical guide

Balances in the cash account

  • We’ll pay you interest on positive cash balances. The rate credited will depend on the currency of the cash balance and will vary when base rates change.

Current interest rates are:

Sterling

2% below UK Base Rate

US Dollar 2% below Federal Reserve Rate

Euro

2% below ECB Rate

The minimum rate of interest payable will be 0.01%

  • Dealing charges and custody charges may apply when selling assets to clear an overdraft.

  • When an overdraft is cleared, the value of assets sold will be enough to restore a cash balance equal to 1% of the last monthly valuation.

Dealing

Non-discretionary managed

  • We’ll act on buy/sell instructions on the

next available pricing day of the fund.

  • If, at any time, your cash account has insufficient funds to meet any charges or any withdrawals that you have requested, it will become overdrawn.

  • The minimum amount of any holding that you can ask us to sell is the lesser of £1,000 (1,500 or $1,500) or the residual value of the holding.

  • We’ll charge interest on any overdrawn amount. The rate charged will depend on the currency of the overdraft and will vary when base rates change.

Current interest rates are:

Sterling

3% above UK Base Rate

US Dollar 3% above Federal Reserve Rate

Euro

3% above ECB Rate

  • We may change our method for determining interest rates. If we need to do this, we’ll let you know.

  • If an entire holding is not sold you may need to leave a minimum amount remaining invested in the holding. Currently this minimum is £1,000 (1,500 or $1,500), or as per the minimum set by the investment manager or deposit taker if higher.

  • There may be times when we are unable to sell the holdings you choose, for example because the fund is only bought and sold every three months or if a fund manager delays transactions in difficult market conditions.

  • We’ll set the overdraft to clear automatically when it exceeds 2% of the last monthly valuation. For bonds which are non-discretionary managed the default action will be to sell part or all of the holdings in a fund nominated by you on the application form. If you didn’t specify a fund or the selected fund has been sold, we’ll clear the overdraft by selling all or part of the largest holding within the bond first or a holding of our choice. For bonds which are discretionary managed, the Discretionary Manager will choose which holdings to sell to restore the cash account balance.

  • The minimum amount that can be invested into a single holding is £1,000 (1,500 or $1,500) or, if greater, the minimum investment limit set by the investment manager or deposit taker.

  • Dealing may be delayed where the buy/sell instruction doesn’t clearly identify the fund.

  • Where funds are already reviewed, dealing instructions received in writing by noon on a business day will be placed before close of business the following working day. For funds that are not priced daily, deals will be placed for the next available pricing day of the fund.

eight

Document info
Document views35
Page views35
Page last viewedSat Dec 10 19:21:53 UTC 2016
Pages15
Paragraphs417
Words5347

Comments