Norwich Union Retail Fund Range

Article date: 6 November 2002

Norwich Union is changing the pricing structure of its retailfund range to focus on offering both a CAT priced range and anon-CAT priced range of ISA funds. The changes will take effectfrom 28 February 2003.

The CAT priced range of funds will comprise of:

  • Blue Chip Tracker
  • UK Index Tracker
  • International Index Tracker*

The above funds will have an annual management charge of 0.90per cent with no initial charge.

The non-CAT priced range of funds will comprise of:

FundInitial charge %Annual charge %
Higher Income Plus41.25
Corporate Bond41.00
European Equity51.50
UK Equity51.50
UK Equity Income51.50
UK Ethical51.50
UK Growth51.50

The new pricing structure of the funds brings Norwich Union intoline with industry standard pricing of actively managed funds.

Cuimin Macmahon, Head of Collective Investments for NorwichUnion, said: “Norwich Union continues to offer both CAT andnon-CAT priced retail funds thereby ensuring clients have thechoice of both active or passive management of their funds.

“The current price cap on CAT funds makes it uneconomicfor us to continue to offer actively managed ISAs within a 1%charge. We are therefore changing the pricing structure of activelymanaged funds to better reflect the true cost of selling them andmanaging them.

“The change in charging structure brings our fund chargingmore into line with other investment houses in theindustry.”

Press office contacts:

  Out of hours
James Evans, Norwich Union08703 66 68 7807790 487105
Louise Goffee, Norwich Union08703 66 68 7007810 057362
Ian Beggs, Norwich Union08703 66 68 7107790 487533

Notes to editors

Norwich Union is the UK’s largest insurer. It is theUK’s largest provider of life, pensions and investmentproducts and one of the leading IFA providers. IFAs provide around75% of the company’s long-term savings business.

Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco Personal Financeand The Royal Bank of Scotland Group.

*The International Index Tracker is not a CAT standard fund– however the pricing structure remains within CATstandards.

The current charging structure of the funds which are moving tonon-CAT priced funds from 28 February 2003 is:

FundAnnual management charge
Higher Income Plus1 %
Corporate Bond0.8 %
Portfolio1 %
European Equity1 %
UK Equity1 %
UK Equity Income1 %
UK Ethical1 %
UK Growth1 %

There is currently no initial charge on the above funds.

Customers who have invested in the above funds prior to the newcharging structure becoming effective in February 2003, willcontinue to attract the same level of charges. Regular savers willbe able to continue to contribute on a regular basis to theirinvestment on the current charging structure.

  • Norwich Union’s news releases are available on the Avivaplc website at
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  • An ISDN facility is available for studio quality interviews.Call the press office on 08703 66 68 68

For all life & pensions media enquiries 08703 66 6878
For all other media enquiries 08703 66 68 68

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