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Artemis moving into fixed interest

Artemis is to enter the fixed-interest market with a strategic bond fund to be managed by former Isis managers James Foster and Alexandra Ralph.

The fund will be modelled on the Isis strategic and extra-income bond that Foster and Ralph previously ran before it became part of the F&C range.

The fund will move between Government, corporate and high-yield bonds and is targeting a return of around 5.5 per cent a year over the long term.

Foster says having a small team running the fund will give it a more focused approach.

Artemis says it has been looking at bonds as an asset class for some time. It hopes the fund will respond to the needs of older investors who want to reduce investment risk but still receive an income.

Chelsea Financial Services managing director Darius McDermott says: “With a small team like this, you have to have faith in the management and we do, which is why we are mailing details of the fund to our clients.”


Scheme aims to engage the public with IFA sector

Alan Swaysland’s letter on “Free PFS advice service helping the wrong client” (Money Marketing, May 5) throws an interesting light on the approach of some IFAs to trying to engage more customers with the IFA sector.

What was known as the “CAB/Sofa” scheme has been inherited by the PFS. I have attended one session of the steering group which is overseeing this service. It is a pilot scheme and a report is due this year. Only then will it be possible to make an assessment of the success or otherwise of the experiment.

Two new board members at St James’s

St Jamess Place Capital has announced the appointment of two new board members with Simon Gulliford and Mike Power joining as independent non-executive directors. The move follows the retirement of Lord Weir and Anthony Loehnis.

Nothing NU about admin standards

My last words to one of our clients as I left a recent meeting were: “Now don’t forget, Mr Client, we chose Norwich Union for the commercial property investment part of your portfolio because of the fund’s strength and performance. Please remember that Norwich Union’s administration is usually appalling and we can expect them to lose your cheque/application at least once, ha, ha.”


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