FundsNetwork alters Isa/Pep payment structure

FundsNetwork has altered its income payment structure on Isa and Pep accounts, changing the frequenc...

FundsNetwork has altered its income payment structure on Isa and Pep accounts, changing the frequency from quarterly to monthly. Any income received by FundsNetwork from a provider, including Fidelity funds, by the last business day of the month will now be paid to clients on the 15th of the following month. The cut off date was previously the 28th, but as many funds held on the platform have distribution dates on or around the last day of the month, this was causing delays in clients receiving their income. The change of payment frequency to a monthly basis has no impact on the distribut...