Norwich Union has said it has launched the Norwich Stakeholder Savings Fund, a low cost, easily accessible medium-term investment fund, available from April 6, 2005.
This product will be available through a “light-touch” sales regime. It will be available through Norwich Union’s partners such as building societies. Customers can invest as little as Ј20 for both regular and single premiums with no maximum, and the charges are capped at 1.5% pa for the first 10 years and 1% thereafter with no other charges. Customers can invest directly into the fund or through an Isa or a PEP transfer.