AIB fusion funds
- Thread starter Mamamia22
- Start date
Nowhere can I see what the annual management charge is for a regular savings account on this product. You have to 'Set Up A Chat' to probably find that out and I'd be surprised if it was mentioned unless you specifically ask what it is. "But, sure, it was in the 40 pages of documentation I gave you."
Incidentally, it appears that some banks are ringing up people that have cira €30,000 in an account and advising them that they should also 'set up a chat' with one of their advisors. That's just one step above their gutter days when the staff used to flag direct debits for new pensions/savings plans from other providers and contact the clients to 'set up a chat' with their advisor.
There is however a regular contribution KID available here (Bottom Left - RC Fusion 5)
Given that this is a one size fits all product (it's highly unlikely that the advisors get to choose better pricing) and that KIDs are an indication of the worst possible scenario on chargeshttps://www.askaboutmoney.com/file:///C%3A/Users/DID/Downloads/KID-RC-Fusion%205_202304.PDFthen I'd be pretty sure that this is as good as it gets.
You have the Levy of 1% on all contributions, regular and single.
It looks like you have early exit charges in the first 5 year - the only reason they're saying "This product has no minimum holding period but is designed for a long term investment and you should be prepared to invest for atleast 5 years to give your investment time to achieve its growth potential." This is way too short a period for any investment/savings plan and is more about the banks bottom line that you coming out with a favourable return. The banks shareholders would be happy enough with this pricing also.
The AMC is cloaked in the 1.8% figure so I'massuming it's circa 1.5%/1.6% because there's an Additional AMC for Fusion 4 & 5 of 0.10% and other ongoing costs are also around 0.10%
The funds are new (circa 3 months old) and managed by Irish Life.
Is there better value elsewhere?
Absofrigginlutely!! Everytime, if it's a bank sold savings, investment or pension product.
Gerard.
Incidentally, it appears that some banks are ringing up people that have cira €30,000 in an account and advising them that they should also 'set up a chat' with one of their advisors. That's just one step above their gutter days when the staff used to flag direct debits for new pensions/savings plans from other providers and contact the clients to 'set up a chat' with their advisor.
There is however a regular contribution KID available here (Bottom Left - RC Fusion 5)
Given that this is a one size fits all product (it's highly unlikely that the advisors get to choose better pricing) and that KIDs are an indication of the worst possible scenario on chargeshttps://www.askaboutmoney.com/file:///C%3A/Users/DID/Downloads/KID-RC-Fusion%205_202304.PDFthen I'd be pretty sure that this is as good as it gets.
You have the Levy of 1% on all contributions, regular and single.
It looks like you have early exit charges in the first 5 year - the only reason they're saying "This product has no minimum holding period but is designed for a long term investment and you should be prepared to invest for atleast 5 years to give your investment time to achieve its growth potential." This is way too short a period for any investment/savings plan and is more about the banks bottom line that you coming out with a favourable return. The banks shareholders would be happy enough with this pricing also.
The AMC is cloaked in the 1.8% figure so I'massuming it's circa 1.5%/1.6% because there's an Additional AMC for Fusion 4 & 5 of 0.10% and other ongoing costs are also around 0.10%
The funds are new (circa 3 months old) and managed by Irish Life.
Is there better value elsewhere?
Absofrigginlutely!! Everytime, if it's a bank sold savings, investment or pension product.
Gerard.
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@GSheehy is too modest or too wary of falling foul of the posting guidelines to mention his own offering which easily falls into the "better value" category.
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