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2CG aiming for top IFAs

New boutique fund manager 2CG is to take its first steps into the IFA market this month with a continental European fund.

The European capital growth fund will be a Dublin-based Oeic targeted mainly at the top end of the IFA market.

It will have a low initial charge of 0.5 per cent although IFAs can add up to 5 per cent initial commission. Annual charge is 1.55 per cent with trail commission of 0.5 per cent. Minimum investment is £1,000.

The fund will be managed by the firm&#39s founders – former M&G fund manager Charles Glasse and ex-Credit Suisse manager Chris Garsten. It is looking to raise £30m.

Glasse managed the
European dividend fund at M&G for over 10 years, achieving a Standard & Poor&#39s AAA rating for five consecutive years. Garsten was at Credit Suisse Asset Management for 14 years.


IF offers loan calculator

Intelligent Finance is mailing a mortgage calculator to 21,000 IFAs. It says the calculator can help IFAs show clients the benefits of switching their mortgage to the company. To alert IFAs to the mailing, it is sending a promotional postcard with the line, Do you have the Midas touch? IFAs will then get a computer […]

Stress sees Staffordshire chief exec Page quit

Staffordshire Building Society chief executive Keith Page has left the society by mutual consent after six years. The society says an agreement was reached last week between Page and the board that he should step down both as chief executive and as a director. Staffordshire says Page has left the society to spend more time […]

L&G caps the mortgage market

Legal & General’s Mortgage Club has introduced the 5.35 per cent capped rate mortgage. Aimed at first time homebuyers and people looking to remortgage, the product has a capped rate of 5.35 per cent for loans of up to 95 per cent of valuation for the first two years of the loan. The early redemption […]

Going for rebroking

Term insurance is one of the more simple financial products on the market but this does not mean that IFAs are necessarily at a disadvantage. Direct Life and Pensions managing director Michael Ward points out that two-thirds of term insurance policies are sold by tied agents but that the IFA sector consistently beats tied agents […]


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