Why pay entry fees into managed funds ?
Floatnews has entered the retail managed fund discount market with rebates on entry fees on some 50 managed funds. Managed fund research is provided by Van Eyk and managed fund news is provided by InvestorDaily.com, a division of Investor Info Ltd.
For those investors who know which managed funds they'd like to invest in or are willing to use online tools and research to find out, there's a growing number of ‘discount managed fund brokers' that will rebate entry fees into managed funds on a non – advisory basis. Traditionally entry into managed funds has been via a financial planner who collects an ‘up to' 4% fee on all funds invested for advisory services. The financial planner can also rebate entry fees and will often do so when they charge for completing a financial plan.
Others that provide rebates on entry fees into managed funds currently include Neville Ward Direct, Comsec, Etrade, TD Waterhouse, Merrill Lynch HSBC, InvestorWeb, YourProsperity and TradingRoom. Each service varies in the number of funds available, the application process, research available (Morningstar, ASSIRT, Van Eyk) and other news and online tools to help you select a fund.