Waystone Financial Investments Limited (“WFI”) is subject both to the Insurance Distribution Directive (“IDD”) and Markets in Financial Instruments Directive (“MiFID”). Both these directive impose obligations on WFI to disclosure all costs and associated charges relating to its services and the products to which those services relate.
WFI acts as manager of the Prudential ISA. This ISA allows investors to subscribe to either or both of:
With regard to the former, the Prudential Assurance Company Limited produces Key Information Documents and Investment Options Documents for each of the PruFund Funds available. These contain the required information on all product-related costs and associated charges.
These are available: https://www.mandg.com/pru/adviser/en-gb/insights-events/key-information-documents?docCategory=category-The%2520Life%2520Insurance%2520Policy%2520within%2520the%2520Prudential%2520ISA
With regard to the latter, because WFI is obliged to disclose information over and above that set out in the fund’s Key Investor Information Document, WFI has prepared specific “ex ante” disclosures for each of the available share classes. These are located on the Costs and charges disclosure page.
WFI itself does not levy any charges on investors for its operation of their Prudential ISA accounts. However, investors should take account of the “Important Information”
Products Available
If you are investing in the “Prudential ISA”, you can choose either or both the life policies (“PruFund Funds”) and/or an open-ended investment company (“WS Prudential Investment Funds (1)”)
Third Party Payments
WFI or an Associate (as defined below) are reimbursed by Prudential Distribution Limited for systems development costs and for costs incurred in relation to changes to the products offered within the Prudential ISA
Inducements
From time to time, and in line with applicable regulatory requirements and the policies implemented by the company, WFI may receive or provide hospitality or other acceptable “non-monetary benefits” of a reasonable nature and scale which do not impair its ability to act in its clients’ interests. No WFI staff receives remuneration of any kind linked to the distribution of the PruFund Funds. No WFI staff received remuneration of any kind linked to the distribution of the PruFund Funds or the WS Prudential Investment Funds (1).
Risk Warning
The value of investments and the income from them will fluctuate. This will cause the fund price to fall as well as rise. There is no guarantee the fund objective will be achieved and you may not get back the original amount you invested.
Part of the total costs and charges may represent an amount in foreign currency.
The above disclosures do not take account of taxes that may be levied based on the performance of the fund, or measures that may be used by the fund to mitigate the risk of dilution, as these may not arise in all circumstances. Further information on such matters can be found in the Prospectus of the WS Prudential Investment Funds (1) or the PruFund Funds’ Literature.
Investment Advice
Where investment advice is facilitated from your investment, then the one-off costs will be increased by the amount of any up-front payment and ongoing costs will be similarly impacted by any ongoing payments. You should ensure you fully understand the impact of any charges levied by your adviser.
Source: Link Financial Investments Limited, as at 29th April 2021.
The WS Prudential Investment Funds (1) fund is authorised in the United Kingdom by the Financial Conduct Authority. Waystone Management (UK) Limited (WMUK) is authorised and regulated by the Financial Conduct Authority. Registered Office 3rd Floor Central Square, 29 Wellington Street, Leeds, LS1 4DL. Copies of the fund’s prospectus, reports and accounts and KIID, may be obtained from www.waystone.com or by writing to Investor Services PO Box 385, Darlington, DL1 9UA. These documents are available in English and are free of charge. The PruFunds Funds are provided by The Prudential Assurance Company Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
For information on PruFunds, visit www.pru.co.uk.