Trustnet Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Fund Supermarket Guide

Concept

What is the concept of a fund supermarket?
There is a multitude of fund supermarkets available online. Differences can be found in the number of funds on offer, services and functionality. Most fund supermarket models offer no advice, although many provide research tools to help you decide which funds to invest in. Let us consider the following aspects:

Definition
There is still no consensus view of what a fund supermarket should be in the UK. Some believe that only those web sites that have online dealing capabilities can be labelled a true fund supermarket. Others feel that a supermarket should offer paper-based and telephone access to funds as well as via electronic means, giving the investor the power to choose the channel through which they invest. The definition of what constitutes a fund supermarket is not made clearer as established companies develop their services.

One of the innovations to be added is re-registration, which was introduced in 2002. Re-registration allows the movement of existing holdings, for example, ISA investments held with different management groups, to the supermarket without having to sell and repurchase. Essentially it means that the investor gains the benefits of supermarket investment, such as consolidation, without having to move investments out of the market. It is as well, though, to be aware that not all of the management groups listed on supermarkets are currently participating in re-registration.

Service
Many of the fund supermarkets currently in the market offer online transactions, but there are some inconsistencies that can make the investment process convoluted. In order to invest online some sites require the investor to complete and post a registration form. Others allow an online application form for lump sum investments, but monthly investments must be posted with a cheque. Due to money laundering regulations, supermarkets that do offer an online service will only accept debit cards as payment. It may be convenient to use fund supermarkets that allow holding all purchases in a single account, and which issue a consolidated statement.

The investment tools offered may also affect the choice of supermarket. Only a few fund supermarkets offer financial advice; many instead have research tools to narrow fund choice according to investor-specified criteria. Some tools may help assess attitude to risk as a route towards selecting a fund. In many cases it is possible to view the performance and Key Features of a fund. Some supermarkets have a basic education section; others tailor whole sites according to the user’s level of investment experience. If unsure about any purchase, many supermarkets provide details of how to contact an Independent Financial Advisor. Some IFAs also provide their own fund supermarkets and offer the choice of contacting an adviser on or offline.

Cost
There is usually no cost for using the supermarket, although some that offer additional financial services may charge a fee. Many supermarkets offer substantial discounts on the initial charge (or set up charge) of a fund. Initial charges for direct investment with the management group could be as high as 6%, whereas fund supermarkets can reduce this cost to as low as 1%, and some remove the charge altogether. Ongoing charges such as annual fees are rarely discounted. To entice investors to invest in a particular way some supermarkets have discounts on lump sum investments only and have a fixed initial investment amount. There may also be a small fee for transferring money to another fund within the supermarket range; again the rules may be different according to whether there is a switch between funds within the same management group or the investment is moved to a different group.

Fund supermarkets are able to offer discounts by negotiating the cost with product providers. The product providers give part of the management fee paid to them to the supermarket as commission; in return management groups benefit from reduced fund administration costs. Smaller providers also have the added advantage of being viewed by a wider audience. Although supermarkets can be used as a cheaper alternative to investing directly with the product provider, initial charges may be even lower through other channels, such as via a discount broker offering a no-frills facility.

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