CMI Portfolio investment funds
Choosing which funds to invest in is an important decision. CMI Portfolio offers
you 'open architecture' giving you direct access to funds from over 170 of the world’s
leading investment houses so that you can build and manage your portfolio in line
with your investment objectives and attitude to risk. Open architecture means you’re
not restricted to a single fund, or range of funds, provided by one or a pre-selected
number of investment houses. With CMI Portfolio you can choose from an extensive
range of investment funds as well as Exchange Traded Funds, Investment Trusts and
deposit accounts.
We've used our size and purchasing power to negotiate special deals with many of
the world's leading fund managers, which we pass on in full to help you get greater
value for money. These discounts aren't normally available to individual investors,
and they can be very valuable in helping to reduce the cost of building and developing
your portfolio. Please contact your financial adviser for more details.
Please note that discounted investment terms only apply where the assets are held
by CMI Insurance Company Limited.
Please click on the options below for more information about managing your funds:
As we don't have a restricted fund range, there isn't a definitive list of permissible
investments. If you're not sure what classes as a permissible asset, please read
our
investment criteria. In some circumstances we may allow investment into
funds that don't meet all the criteria, subject to the policyholder completing an
Investment Disclosure Notice. Each Investment Disclosure Notice is linked to both
the investment and the bond. Please contact us for more information.
Please send requests for specific funds using our
dealing recommendations form which you can post or fax direct to our dealing
desk on +44 (0) 1 624 662153.
Please note we are unable to accept specific fund requests by email or telephone.
The time taken for a stockbroker or fund manager to send us the contract note and
proceeds, required for the sale of funds, is known as the settlement period. The
settlement period varies according to the individual service standards provided
by the stockbroker or fund manager and the type of investment.
We use a default settlement period in order to ensure your fund transaction is completed
within a set period of time, regardless of the time taken for us to receive the
contract note and proceeds.
Our default settlement periods (in days) are as follows: (where T is trade date)
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Purchase
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Sale
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Equities / Investment Trusts
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T+3
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T+3
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Unit Trusts / OEICs
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T+4
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T+10
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CMI Third Range Funds
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T+0
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T+0
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These timings are intended as a guide only and are not guaranteed. Please contact
your Account Executive if you would like confirmation of the settlement period for
a certain fund.
You can change the investments in your portfolio at any time by switching assets.
A 'switch' is made up of two transactions - selling units in one fund and buying
units in another fund as a replacement.
All transactions between Clerical Medical funds are
currently free of charge. The first 20 transactions each year between external funds
are also free of charge. Additional transactions are charged at £36.00 (US$ 54.00;
€54.00) each.
If you would like to switch assets please complete a
dealing recommendation form.
You can appoint an investment adviser to provide investment advice on your CMI Portfolio,
either as a replacement for or in conjunction with your existing financial adviser.
The investment adviser has the authority to recommend deals on your behalf. They
are also entitled to a copy of the quarterly valuation statement and any other policy
information they request.
If you wish to appoint a financial adviser as investment adviser, they need to have
permission from the FSA to ‘manage
investments’. Because the investment adviser will be advising on investments registered
in the name of CMI Insurance Company Limited, you will need to complete an agreement
to finalise the appointment. Please fill in the appropriate form below and ask your
investment adviser to sign it before you return it to us. We then vet the agreement
and, once it is accepted, we will return a signed copy to your appointed investment
adviser. Any investment advisers that are not regulated by the FSA and are not currently
approved by CMI should complete a
new investment adviser questionnaire and return it with the relevant form
below.
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Document
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File size
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Appointment of investment adviser – CMI Portfolio UK Version
- Temporarily unavailable
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Appointment of investment adviser – CMI Portfolio Non-UK Version
- Temporarily unavailable
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Investment adviser fees are deducted quarterly from your CMI Portfolio on the bond's
valuation date, either as a fixed amount or percentage of the portfolio value. You
or your investment adviser can cancel the agreement and/or the fee at any time in
writing. Please note that we reserve the right to cancel the agreement if the investment
adviser no longer satisfies our criteria.
You can also appoint a discretionary manager to look after your investments. This
means that CMI Insurance Company Limited will transfer the cash and/or funds currently
held in your CMI Portfolio to the nominee of the appointed discretionary manager,
so that direct dealing can take place on your behalf. For further information on
discretionary management, please contact your financial adviser.