'Non-Stakeholder' Charges Questions and Answers

Q. What are the annual costs of a non-stakeholder CTF?

A.  The annual cost for the non-stakeholder CTF is only £13.50 per security (two processed dividends of £6.75).  In the event of your investments not paying two dividends during any 12 month period, we reserve the right to charge the equivalent of two processed dividends of £6.75.

Q. What are the dealing charges for a non-stakeholder CTF?

A.  With a minimum of only £10, our commission per deal is 1.65% of the first £10,000 value and 0.5% thereafter on any excess. We must charge you Government stamp duty at 0.5% of the value when buying shares, preference stocks and convertibles.

Q. Any commission on unit trusts/OEICS deals?

A.  Generally no commission is charged as we are paid commission by the fund managers. If the commission is less than our £10 minimum, then £10 commission  will be charged. The commission normally received from the fund manager will be forfeited to buy extra units for you. Sales are charged at standard dealing rates as above. As we are regular investors in these funds we normally obtain discounts from the managers which we pass on to you.

Q. Are there any extra charges on overseas securities?

A.  Whenever possible we trade and hold overseas securities through Crest and although the handling costs are higher than UK securities, Pilling & Co absorb the fees and no extra charge is made.

However, if you choose an investment which cannot be traded or held via Crest and a third party has to be used, the cost incurred will be passed on to you. This currently is £50.00 per trade and £50.00 annual holding fee.

'Stakeholder' Charges Questions and Answers

Q. What are the annual costs of a stakeholder CTF?

A.  The annual cost for the stakeholder CTF is a maximum of 1.5% of the value per annum. This is charged within the fund the CTF is invested in and will not show on your Pilling  statement.

Q. What are the dealing charges for a stakeholder CTF?

A.   No commission is charged on the purchase in the stakeholder CTF as we are paid commission by the managers. There is no commission charged when sales are made to switch funds under the discretionary agreement. Sales to facilitate a transfer to another provider will be charged at our normal rate of 1.65% on the first £10,000 and 0.5% thereafter with a minimum of £10.

CTF Commissions & Charges at a Glance (Dealing Commissions are per Deal)

'Non-Stakeholder' CTF

UK Equities, Preference Shares, Convertibles, Investment Trusts, Overseas Transactions, UK Gilts, Debentures and Loan Stocks etc.

Minimum	£10
1.65% on the first	£10,000
0.50% on the next	£90,000
0.40% on the excess over	£100,000

UK purchases add 0.5% Stamp Duty.

For Overseas transactions please add any Overseas Tax or Stamp Duty, plus transaction and annual charge of £50 where a 3rd party settlement agent is required. (As stocks vary, please enquire at time of dealing).

Unit Trusts/OEICS

Sales are on the same scale as above. Purchases are usually nil commission due to a rebate by the managers, subject to £10 minimum, otherwise they are charged as above.

Bed & CTF Charges

Sales are free of commission, purchases are charged at normal rates. For sales of a different security to that repurchased we make a flat £10 charge.

'Stakeholder' CTF

No commission on the purchase in the stakeholder CTF as we are paid commission by the managers. There is no commission charged when sales are made to switch funds under the discretionary agreement. Sales to facilitate a transfer to another provider will be charged at our normal rate of 1.65% on the first £10,000 and 0.5% thereafter with a minimum of £10.

CTF Administration at a Glance