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Abbey National launches fund supermarket

Abbey National has become the first high street bank to launch its own funds supermarket. It will be called FundsCentre and will carry 280 funds. Abbey National says the move is part of a strategy to boost its wealth management and savings business.

It says it will demonstrate how a main high street name can successfully distribute other companies’ funds. It is also designed to take advantage of its existing 15.3m customer base.

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