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Artemis hunts for recovery stocks

Artemis has introduced the UK special situations fund.

Aimed at investors who are looking for a medium to high risk investment, the fund is a unit trust that will seek long term growth.

Special situations will invest in recovery stocks. These can include companies that have been liquidated and which are being refinanced, or companies that have merged with others and are in the process of restructuring. The initial spread of companies will include Delta, which is moving from the cabling and plumbing sector to electrical engineering, and watch distributors Time Products, which is undergoing financial restructuring.

The resurrection of a bankrupt company does not necessarily mean that it will be a success the second time around. But companies that are restructuring are able to divest themselves of their less profitable parts and concentrate on their more successful areas.

According to Standard & Poor’s the Artemis UK smaller companies fund is ranked 10 out of 76 funds, based on £1,000 invested on a bid-to-bid basis with gross income reinvested over one year to February 19, 2001.


Berry retires in shake-up at BBN

National IFA Berry Birch & Noble is replacing its chief executive and finance director following a recent downturn in profitability which saw its share price plummet by 27 per cent. The shake-up comes as NewMedia Spark, an internet incubator company, has taken a 9 per cent share in the firm for £775,000. Derek Berry has […]

Capel Cure Sharp rebrands as Gerrard

Capel Cure Sharp Fund Managers is changing its name to Gerrard Investment Funds as parent of both Old Mutual continues the merger of the two brands.The name change will take effect from February 26, 2000, and will see all Capel Cure Sharp unit trusts rebranded as Gerrard unit trusts.CCSFM director of investment fund development Barry […]

Deutsche hedges its bets

Deutsche Bank has introduced a fund of hedge funds that is available as an individual savings account (Isa). Xavex hedgefirst is aimed at high net worth clients looking for capital growth who want to invest in something other than corporate bonds and stocks and shares. It will invest in an index of between 15 and […]

Unum increases disability insurance sales

Disability insurer Unum has announced a 47 per cent increase in sales from £29.4 in 1999 to £43.2m in 2000. The income protection specialist also saw its IFA sales increase 42 per cent last year and growth of 150 per cent in Europe.Its results were reflected across its product range with its group and individual […]

Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]


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