Change to Wrap SIPP and Onshore Bond

We are making some changes to our investment offering within the Wrap SIPP and Onshore Bond products. The changes ensure that we continue to offer an extensive range of investment options while removing less popular options.

Commercial Property and Gold Bullion

We will no longer accept new applications to purchase a Commercial Property or open a new Goldmoney account to purchase Gold Bullion within Wrap SIPP. If you have any requests for these investments in progress, they will be allowed to continue. This change takes immediate effect.

For any clients with existing holdings in Commercial Property or with Goldmoney, we’ll be in touch with advisers detailing what this change will mean for those investors going forward. For now, clients with existing Gold Bullion investments within Wrap SIPP can continue to top up existing Goldmoney accounts.

Reduced insured fund offering

The number of insured funds will change on the following products:

• Wrap SIPP insured funds will reduce by 42 funds
• Onshore Bond insured funds will reduce by 91 funds

We’ll continue to provide access to a wide range of insured funds, a number of internal mandated funds and a number of external fund links.

A suitable replacement fund (asset class, objective and charge) has been identified for each fund that is closing. If you have clients that are impacted by these fund closures, we will contact you soon with more details. You will receive approximately 90 days’ notice prior to the switch taking place and you won’t need to take any action, unless you wish to choose an alternative fund(s).

Please note that we are unable to accept investments from new clients into the closing insured funds. Existing client investments will continue until the funds are fully closed.