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Autif announces electronic project launch for next year

Autif has promised that its electronic project due to be launch in the first half of 1999 will revolutionise customer services.

Stephen Patten, the director of the Autif-sponsored programme, in a speech to Autif&#39s investment funds conference, said: &#34Over the last 18 months our firm objective has been to lay the foundations for the gradual introduction of common industry standards for dealing, settlement and valuation procedures.&#34

Patten suggested that in the early stages of the project, due to start next year, it will only be available to professional advisers.

He also warned the less efficient participants &#34not to take a ride on the backs of their more efficient counterparts&#34.


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M&G raises £40m for high yield corporate bond fund

M&G&#39s high yield corporate bond fund has raised £40m in its three week offer period with almost half of investors being new to the fund manager.M&G&#39s head of corporate communications Tessa Murray says: &#34The combination of a lower-than-equities risk profile and a tax free yield of over 8 per cent has proved very attractive, particularly […]


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