ABN AMRO has started, on a limited scale, with the sale of a wide selection of mutual funds of Robeco, Fidelity, Delta Lloyd, Ohra and Triodos. ABN AMRO has thus become the first Dutch bank to offer third party mutual funds under its own name, besides the ABN AMRO funds, to all its customers and on the same conditions.
The expansion of the range of funds is in line with the trend that ABN AMRO perceives in the market that customers are increasingly seeking to invest in mutual funds rather than in individual stocks. The wider range of investment funds also seamlessly matches the new service concept introduced by ABN AMRO in the Netherlands. Customers will enjoy greater freedom of choice and more personalised advice. The new concept enables customers to take care of their finances exactly according to his or her specific needs, making use of bankshops, advisory branches, cash dispensers, internet and customer contact centres.
Formerly customers could only purchase third-party mutual funds by placing a conventional stock exchange order. Such transactions attracted both a custody fee and the standard brokerage commission. Because of the introduction of these third-party mutual funds this is no longer necessary. The investment advisers will integrate these selected mutual funds of Robeco, Fidelity, Delta Lloyd, Ohra and Triodos in their advice to customers alongside the ABN AMRO funds. These funds can be purchased through a book-entry investment account. Just as for ABN AMRO funds there is no custody fee applicable and lower buying and selling charges apply . A further advantage is that the customer can obtain information about the rate and and other information on these mutual funds, such as their prospectuses and annual reports, through all ABN AMRO distribution channels.
(source: ABN AMRO)