You'll find full details in our Key Features Document (TNB17).
The charges aren't guaranteed and may be altered to reflect changes in the costs and assumptions.
Fund Management Charge
Each year we take a percentage of your fund(s) for managing the investment options you choose. This is the Fund Management Charge (FMC) and varies depending on which fund(s) you choose.
Additional Expenses
Fund Managers may charge an additional expense to cover costs. Where this charge applies, it's taken directly from the fund and is included in the unit price.
Commission
Commission is only paid if you've agreed this with your adviser. Additional charges would apply and this would be shown on your personal illustration.
Product Rebate
We provide a product rebate of 0.4% a year. This will be applied to your bond, reducing the effect of the Fund Management Charge. The rebate applies to all funds and is achieved by creating extra units in your fund(s) at the end of each month.
Large Fund Discounts
When your investment exceeds a certain size, we'll apply Large Fund Discounts which reduces the effect of the Fund Management Charge. Like the rebate, we do this by creating extra units in your fund(s) at the end of each month.
There's currently no charge for switching funds. You can switch your investments in and out of various funds to change the mix of investments.
In order to maintain fairness between unitholders remaining in and those leaving a fund, we may, in exceptional circumstances, delay switching all or part of your funds for up to one month or, in the case of units of a fund which invests directly or indirectly in buildings or land, for up to six months. If we delay the switch, we will use the unit prices that apply on the day on which the switch actually takes place, which could be lower or higher than the prices on the day that you made your request.
