View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 6, 2014updated 04 Apr 2017 2:31pm

IOMA Group launches ‘Pound a Day Portfolio’ service

IOMA Group, an Isle of Man-based wealth management firm, has launched its 'Pound a Day Portfolio' investment platform.

By Verdict Staff

IOMA Group, an Isle of Man-based wealth management firm, has launched its ‘Pound a Day Portfolio’ investment platform.

The service is aimed at investors with a minimum of £25,000 to invest and will charge a management fee of £1 a day, or £365 annually, according to a isleofman.com report.

The service is classified into three categories: Collective, Selective and Selective Growth.

Collective portfolio will invest into eight investment funds which have been selected for their diversity, quality and liquidity, according to the website.

Second portfolio will invest into 12 UK equities, with the specific consideration that each company must track record of paying higher dividend compared to previous year for at least 15 years.

Selective Growth portfolio will invest in 14 UK companies that have track record of more than seven years of uninterrupted dividend growth. They also must belong to the FTSE250 at the time of selection.

The website quoted Russell Collister, investment management director at the IOMA Group, saying: "We have developed this low cost, RDR friendly investment product aimed at DIY investors who are looking for an online product that is easy to use.

"More investors are looking online for ways to save and with our complete charging transparency and unique charging structure, we aim to provide a diverse and interactive service."

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International