Pilling Ideal Portfolios (PIPs)

Pilling Ideal Portfolios (PIPs) Overview

As a totally independent stockbroking and wealth management firm our Investment Managers have regular contact with the country's leading fund management groups. It is difficult for a single fund management group to have sufficient expertise across all sectors and geographic areas. So we research which fund managers are best in each particular area and “cherry pick” the best for you.

The Pilling Ideal Portfolios (PIPs) are five portfolios of funds carefully selected by our Investment Managers. These are the Income PIP, the Growth PIP, the Higher Income PIP, the Select Opportunities PIP and the Overseas PIP.

When selecting a fund or trust it is essential to know:

The fund manager and his ability

The portfolio strategy both current and looking ahead

Sector and/or geographic weightings

Tracking error, where applicable, and volatility

Gearing strategy (for investment trusts only)

Discount/premium situations (for investment trusts only)

Currency hedging strategy for overseas fund

We continually monitor these points by having regular meetings and dialogue with managers.

The PIPs can be bought in your Pilling ISA & SIPP portfolios. They can also be bought via a Pilling Nominee Account. Due to the spread of investments we suggest the minimum investment should be £20,000 per PIP. You may add further money to the PIP later if you wish, providing it does not breach any contribution limits for ISAs and SIPPs.

PIPs are only available on a discretionary basis which means that we make changes to the portfolio when we think it best to do so. You will be sent contract notes when any changes are made and we provide you with a full report on the progress every six months. Changes may be prompted by:

An underperformance within a sector

A sector falling out of favour

A change in the management of the fund

A change to the economic environment

If you would like to sell existing stocks to invest in a PIP, we will not charge commission on the sale of these investments. Likewise, if we decide to switch from one unit trust to another within the PIP, we do not charge commission on the sale. When purchasing units for the PIP, commission is normally paid to us by the managers up to a maximum rate of 3%. If no commission is payable, our normal commission of 1.65% on the first ￡10,000 and 0.5% on any balance will be charged on the contract instead.

Our management charge is also lower than our normal discretionary rate at 0.5% plus VAT per annum on the value of your PIP assets. This is levied every six months at the time of our report.

Please note the individual funds also charge annual management fees which will be reflected in the unit price. Details of these charges will be available on the managers websites.

Due to our buying power good discounts have been negotiated on many of the Unit Trusts and OEICs used in our PIPs, which are passed on to you.

There are currently five PIPs available for you to invest in. Click here for details of these together with their risk categories. Our PIPs definition of risk is available here.

	The Five PIPs
	PIPs Definition of Risk
	PIPs Brochure and Application Form

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