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Chase de Vere pulls funds out of CGU fund

IFA Chase de Vere is moving £20 million of business away from the CGU PPT monthly income fund following the fund&#39s decision to slash the income paid out to investors last month.

Chase de Vere independent adviser Ian Millward claims the fund failed to warn them about the cut from 7.8 to 6.3 per cent.

Millward says “Investors would be better off transferring their money into CGU merger partner Norwich Union&#39s higher income plus fund which pays 8.04 per cent.”

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