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Aberdeen Technology and Income Trust raises £200m

Aberdeen Asset Management has raised £200m for its Technology and Income Trust of which £90m is from bank borrowings.

It has two share classes with 55 per cent of the equity issued as ordinary shares yielding an estimated 8.6 per cent. The remaining 45 per cent will take the form of income shares yielding 6.5 per cent.

The initial portfolio will have 50 per cent invested in blue chip technology stocks that have market capitalisation&#39s of US $35bn.

While the remaining 50 per cent will invest in a mixed portfolio of preference shares, fixed interest and other high yielding securities.


C&G warns mortgage restrictions could limit flexibility and choice

Mortgage legislation outlined in the Treasury&#39s consultation document could restrict choice and flexibility in the mortgage market according to Cheltenham & Gloucester.The lender claims the fact interest rates do not always mirror the Bank of England base rate is not the real issue.The issue is that all mortgage terms and conditions are explained clearly and […]

Colonial offers two base rate tracking mortgages

Colonial has launched two base rate tracker mortgages.The first version is aimed at remortgages, while the second is designed for new purchases.Version one offers borrowers a rate set at 0.9 per cent above the Bank of England. But this is discounted by 0.75 per cent for the first 12 months of the loan giving a […]

Timms replaced in reshuffle

The Prime Minister Tony Blair has announced the replacement of pensions minister Stephen Timms by Agriculture, Fisheries and Foods minister Jeff Rooker.Also on the move is the Treasury economic secretary Patricia Hewitt. Hewitt moves to the Department of Trade & Industry, where she is joined by Helen Liddell, who she replaced at the Treasury.Hewitt&#39s replacement […]

Large mutuals to go within two years

The large mutual insurance company is set to become a thing of the past according to a report by market analysts&#39 Datamonitor.It claims the remaining major mutual life companies, with the exception of Standard Life will all give up their mutual status within the next two years.Datamonitor says this will come about as the mutuals […]

Boosting our annuity strategies

Targeting annuity purchase in lifestyle strategies isn’t anything new but we’ve just lifted the bonnet and injected an enhancement shot into the end-point of these solutions. The recent volatility has shot short-term volatility into equity markets and painted a very turbulent backdrop but we’re also equally faced with a stressed fixed interest environment. This can […]


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