View more on these topics

Close offers trail on Beacon fund

Close Fund Management is to offer trail commission on the Close Beacon investment fund from January 15.

The Oeic will still feature initial commission of 3 per cent for new Isa and Pep transfer business but will also offer 0.5 per cent annual trail commission.

Close is also setting up a monthly savings plan with a minimum monthly saving of £100. Minimum lump-sum investment is £3,000.

Beacon, which is fifth out of 68 funds in the UK smaller companies sector over three years, has been managed by Andrew Buchanan since its launch six years ago. Stan dard & Poor&#39s rates it AA.

However, the fund&#39s short-term performance has not been so promising. Over the past three months, the fund has fallen by over 20 per cent and it is in the bottom decile of the sector.

It invests in Aim-listed companies but is not limited by sector.

Buchanan says: “Beacon has no sectoral bias but consistently concentrates on well managed companies with a seed business. Many of its technology investments are long-standing holdings which now pay dividends.”


Aon calls for scrapping of MFR

Aon Consulting, is calling for the government to scrap the Minimum Funding Requirement. Aon believes that the MFR does not provide the protection many assume it does and that it gives trustees a false sense of certainty about funding levels. Aon is proposing the MFR be replaced by a statement of funding principles that would […]

Equitable rethinks drawdown transfers

Equitable Life has confirmed it will allow all its income-drawdown policyholders to transfer their plans once new regulations come into force in April. There had been concerns that the company would prevent transfers of drawdown plans taken out before June 29, 2000. Providers, IFAs and Money Marketing were last week told by Equitable&#39s technical services […]

Reducing returns

Equitable Life&#39s decision to close for new business re moves it from the individual stakeholder-friendly fray but still leaves 13 on the table. Group stakeholder-friendly providers number 20. This, as I argued last month, will still be too many and something will have to give. Barclays Life&#39s contract has been the cause of much comment […]

Equitable policyholders asked to accept lower payments

The FSA is hoping Equitable Life policyholders will be prepared to accept lower payouts in an attempt to make the troubled insurer more appealing to potential purchasers, according to the Sunday Times. Mellon Financial Corporation, a large American group, and Dutch insurer Aegon are both thought to have an interest in purchasing Equitable, but an […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm