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Autumn Statement: passive/active war takes twist as ETF stamp duty cut
by Eleanor Lawrie on Dec 05, 2013 at 12:07
'The Autumn Statement doesn’t state if this affects mutual funds or not. If it doesn’t then this is a major advantage for ETFs as they will cost even less and track better compared to mutual funds,' he said.
'The one puzzling statement is that the expected result is fund companies will base ETFs in the UK now. I really don’t see this happening and suspect fund companies will continue to domicile in Ireland and Luxembourg.'
Nick Hungerford, Nutmeg chief executive, said his key concern was whether the savings would be passed on to customers.
'This is really good news but any reduction in costs has to be passed on to customers, not used to increase profit margins,' he said.
Mr Hungerford noted there was a growing trend in ETF investing, but that the UK was still behind other countries, offering less choice to investors.
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