Please click on the link below for details of the mutual funds available through the Zurich SIPP, and their charges.
The standard initial charge column reflects the amount of initial charge the customer would have paid had they dealt directly with the fund manager (i.e. not via the Zurich SIPP/Funds direct) whereas the discounted initial column shows the actual initial charge which our SIPP customer will pay after the discount has been applied.
For example, if the Standard Initial Charge is 4.5% and Discounted Initial is 0%, an investor will pay no initial charge to the fund manager, as long as the adviser does not take any initial commission, i.e. the customer will receive a total discount of up to 4.5%.
If initial commission is taken, then the initial charge will rise by the amount of commission taken. The web portal does allow advisers to choose the amount of initial commission taken between a minimum of zero and the maximum available of the fund.
This flexibility does not apply to trail commission which is fixed, as shown on the spreadsheet.