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Ardevora to launch onshore income fund

Ardevora is to launch the first onshore fund in its range for Jeremy Lang and William Pattison, in conjunction with Margetts Fund Management.

The UK-domiciled MGTS Ardevora UK income fund will launch on April 2. The fund will mirror the Dublin-domiciled Ardevora UK income fund, which launched in January last year.

Margetts already has links in place with platforms, and will act as the ACD.

The fund will be run as a relatively concentrated portfolio with a significant mid-cap bias. It will hold around 40 stocks and will aim to yield approximately 3.9 per cent.    

For retail investors, there will be a 5 per cent initial charge and 1.5 per cent annual charge.


McQuaker warning over gilt exposure

Henderson head of multi-manager Bill McQuaker says investors should be wary of holding too much exposure to gilts, as he does not expect the 2011 rally to continue. Gilts rallied last year as investors flocked to safe haven assets as the eurozone sovereign debt crisis deepened. McQuaker says: “Gilts performed well last year due to […]

Regulator dilutes governance plans due to lukewarm industry response

The FSA has watered down proposals to increase governance requirements for with-profits funds after receiving a mixed reaction from the industry. Under the regulator’s original proposals, a with-profits committee would have been required for all with-profits funds except small funds. However, the FSA’s policy statement on protecting with-profits policyholders, published last week, says it dropped […]


Allan Rosengren joins Signature

Rowan Dartington has appointed Allan Rosengren as relationship development director with its discretionary management service, Signature. The former Lighthouse joint chief executive is currently a partner at Heron Capital and a consultant with Rosengren Consulting. Rosengren (pictured) left Lighthouse in October 2011. He founded Falcon Group in 1983 and joined the Lighthouse board as chief […]

Chelsea’s Matt Woodbridge to join Barclays Wealth

Chelsea Financial Services head of investment products Matthew Woodbridge is leaving the firm to join Barclays Wealth. Woodbridge is to leave Chelsea Financial Services on April 5 and will be joining Barclays Wealth as vice-president shortly afterwards. He will be working in the product team across tax-efficient vehicles such as VCTs and EIS, as well […]


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