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Royal London&#39s £130m European growth fund is sixth out of 1,495 unit trusts over the last year with growth of 31.5 per cent.

The fund is one of the few in the top 10 to invest in Europe. Most of the others are North American funds. The Royal London fund, which is managed by Mark Greenhoff, is weighted mainly in services and financials.

Consumer goods and services make up 32.5 per cent of the fund and financials account for 23.5 per cent of the portfolio. Basic industries contribute 14.2 per cent and capital goods make up 11.8 per cent. The remaining 8.1 per cent of the fund is invested in utilities.

The fund is overweight in France and Spain and underweight in Germany although Royal London says this is of less significance than the individual stocks held in the fund.


400 IFAs ask about joining Portfolio &#39network&#39

IFA Portfolio&#39s pseudo network Anglo Caledonian is claiming to have had an “enormous” response which could make it the third-biggest network. Chief executive Ian Mackinnon says Portfolio has received 400 enquiries from IFA firms which are interested in joining. If all became members, the new network would rank in size behind DBS and Countrywide. Portfolio […]

Offices scratch heads over Govt earmarking data

The Government appears to be confused over the number of pensions earmarked by the courts last year after life offices accused it of getting the numbers wrong. Earmarking allows divorced couples to share pension payments. It was introduced in July 1996 to benefit women who may have been left without adequate pension provision after divorce. […]

&#39Crazy&#39 A&L ads push mortgages

Alliance & Leicester is going mortgage crazy with a £1m campaign to promote its “completely insane” homeloan offers. The push includes advertising in the consumer and trade press with bizarre headlines like “Socks, stop singing so loud” to draw attention to its spring mortgage deals. The ads also carry the line “Completely insane mortgage deals […]


Following on from last week&#39s controversial Correspondent&#39s Week article by Money Marketing&#39s hirsute hack Simon English, the Diary is pleased to inform readers that they can indeed find a haircut in Soho for less than £25. After much tramping round the historic streets, we found a barber shop on Mill Street that will shape any […]


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