As a totally independent stockbroking and wealth management firm our Investment
Managers have regular contact with the country's leading fund management groups.
It is difficult for a single fund management group to have sufficient expertise
across all sectors and geographic areas. So we research which fund managers are
best in each particular area and “cherry pick” the best for you.
The Pilling
Ideal Portfolios (PIPs) are five portfolios of funds carefully selected by our
Investment Managers. These are the Income PIP,
the Growth PIP, the
Higher Income PIP,
the Select Opportunities PIP
and
the Overseas PIP.
When selecting a fund or
trust it is essential to know:
-
The fund
manager and his ability;
-
The portfolio
strategy both current and looking ahead;
-
Sector and/or
geographic weightings;
-
Tracking
error, where applicable, and volatility;
-
Gearing
strategy (for investment trusts only);
-
Discount/premium situations (for investment
trusts only);
-
Currency
hedging strategy for overseas fund;
-
We
continually monitor these points by having
regular meetings and dialogue with managers.
The PIPs can be bought in your Pilling ISA & SIPP portfolios. They can also be
bought via a Pilling Nominee Account. Due to the spread of investments we
suggest the minimum investment should be £10,000
per PIP. You may add further money to the PIP later if you wish,
providing it does not breach any contribution limits for ISAs and SIPPs.
PIPs are only available on a discretionary basis which means that we make
changes to the portfolio when we think it best to do so. You will be sent
contract notes when any changes are made and we provide you with a full report
on the progress every six months.
Changes may be
prompted by:
-
An underperformance within a sector;
-
A sector falling out of favour;
-
A change in the management of the fund;
-
A change to the economic environment.
If you would like to sell
existing stocks to invest in a PIP, we will not charge commission on the sale of
these investments. Likewise, if we decide to switch from one unit fund to
another within the PIP, we do not charge commission on the sale. When purchasing
units for the PIP, commission is normally paid to us by the managers up to a
maximum rate of 3%. If no commission is payable, our normal commission of 1.65%
on the first £10,000 and 0.5% on any balance will be charged on the contract
instead.
Our management charge is
also lower than our normal discretionary rate at 0.5% plus VAT per annum on the
value of your PIP assets. This is levied every six months at the time of our
report.
Due to our buying power good
discounts have been negotiated on many of the Unit Trusts and OEICs used in our
PIPs, which are passed on to you.
There are currently five PIPs available for you to invest in.
Click here for details of
these together with their risk categories. Our PIPs definition of risk is
available
here.(PIP0308)
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