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Changes to International Portfolio Bond charges on Wrap

20 May 2024

Changes for International Portfolio Bond provided by Standard Life International

Today, Standard Life International have announced changes to the charges they levy for providing the International Portfolio Bond (IPB) on Wrap.

Standard Life International, the provider of the IPB, and abrdn, the provider of the Wrap platform, each set their own pricing strategy. Standard Life International’s decision to review the charges for the IPB was a result of increased costs for providing the bond. Additionally, it has been agreed that the charges for the IPB will no longer be linked to the level of client assets a firm holds on the abrdn Wrap platform.

International Portfolio Bond charges for new Wrap clients

From 31 May 2024, new Wrap clients who apply for an IPB will pay an annual product administration charge of 0.12% across all tiers of client platform eligible assets.   

International Portfolio Bond charges for existing Wrap clients

Currently, a product administration charge applies to clients holding an IPB if your firm holds less than £75m in platform eligible assets (PEA) on Wrap. The charge is set at 0.15% if your firm holds less than £20m of firm-level PEA and 0.05% for between £20m to £75m firm-level PEA.

Existing Wrap clients will see a change to IPB pricing come into effect in Q1 2025, by 31 March at the latest. Until then, existing clients will pay the current charges. At the point the new pricing comes into effect in Q1 2025 the following charges will apply:

  • Existing clients who already hold an IPB will see their charges increase by up to 0.05% to a maximum charge of 0.12%. abrdn will ensure that clients who already hold an IPB will be no worse off as a result of this pricing change. The combined impact on charges from any reduction in the Wrap platform charge and this change to IPB charges will be neutral or better.
  • Existing Wrap clients who apply for a new IPB after the Q1 2025 change will pay an annual product administration charge of 0.12% across all tiers of platform eligible assets.

If you’d like more information about Wrap’s charges, speak to your usual abrdn contact.

Charges are not guaranteed. They are regularly reviewed and can be changed.

The value of investments can go down as well as up, and the investor could get back less than was paid in.