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Capita in timely launch


Rising Income Plan


Income and growth by investing in UK corporate bonds and equities

Minimum investment:
Lump sum £1,000

Investment split:
64% in UK corporate bonds,
36% in UK equities

Isa link:

Pep transfers:

Initial 5.25%,
annual 1.5%

Initial up to 3%

Tel: 0117 910 7900

The Rising Income Plan from Capita Financial Managers is an Oeic that invests in a mixture of UK corporate bonds and equities. The bond element will be managed by James Foster at Isis, while the equity element will be managed by Tim Russell at Cazenove and Tony Willis at Lazard.

Highclere Financial Services partner Alan Lakey regards this fund as an interesting issue that does not fit into any particular niche. He says: “This is a timely launch of a fund which invests at least 60% in fixed interest and the remainder in equities. This will continue to benefit from tax efficiency if wrapped inside an Isa. While not a multi-manager offering in the truest sense, it nevertheless uses three respected fund management groups to manage the assets &#45 Cazenove, Isis and Lazard.”

Lakey likes the fact that the fund managers have proven records and he feels this fund is likely to prove an attractive package. He adds: “The commission of 3 per cent is normal and acceptable, while the brochures are clear and understandable.”

Looking at the fund&#39s marketing potential Lakey says: “From a marketing angle, Capita is not a name that falls from the lips. The underlying fund managers are the main thrust. But the brochures do not make clear the breakdown between the two equity fund managers or how this will be managed.” This complaint leads Lakey to consider other drawbacks.

He says: “The initial charge of 5.25 per cent and annual charge of 1.5 per cent are somewhat on the high side but will be acceptable if performance is constantly above average.”

Lakey thinks the fund will vie for attention alongside multi-manager and defensive managed funds. He concludes: “Credit Suisse&#39s multi-manager proposition and the defensive managed funds from Gartmore, Investec and Jupiter appear to be the pick of the opposition.”


Suitability to market: Good
Investment strategy: Good
Charges: Average
Adviser remuneration: Good

Overall 6/10


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