Pru to alter Distribution fund split

Prudential is set to change the mandate of its Distribution fund to a 60/40 bond and equity split ...

Prudential is set to change the mandate of its Distribution fund to a 60/40 bond and equity split to maintain the 10% tax credit on dividends for its Isa investors. The move is subject to the outcome of Prudential's research into the fund's unitholder base and will be decided either way this week. The group is keen to ensure the portfolio has sufficient Isa investors to warrant the change. The initial charge on the Distribution trust is being discounted from 3% to 2% but the Pru will still pay 3% initial commission and 0.5% renewal. Prudential Distribution is currently benchmark...