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What is a loyalty bonus?

Loyalty bonus is a saving that we provide against the ongoing charge of a fund.

Financial Conduct Authority (FCA) rules require loyalty bonuses paid on units bought, transferred or acquired on or after 1 April 2014 to be treated differently to loyalty bonuses paid on units bought, transferred or acquired before this date.

Units bought on or after 1 April 2014

Loyalty bonuses received on units bought, transferred or acquired on or after 1 April 2014 must be reinvested back into funds. We cannot pay this money out to you. Reinvestments can be made automatically or you can hold your loyalty bonus as cash and reinvest it yourself, subject to a minimum of £10.00.

Units bought before 1 April 2014

Loyalty bonuses received on units bought, transferred or acquired before 1 April 2014 can still be paid as cash. You can hold these loyalty bonuses as cash, transfer them to the capital account (where you can reinvest) or withdraw them if you wish.

You can view and manage your loyalty bonuses by clicking the ‘loyalty bonus’ link, found directly above your portfolio valuation table when you first log in.

Please note, loyalty bonuses paid outside the ISA and SIPP might be subject to tax.

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