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Close to launch second Japanese fund

Close Fund Management is to launch its second Japanese accelerated return fund in late December offering five times the return of the Nikkei 225 over six years.

The sterling-hedged fund will offer a maximum of 80 per cent over six years and offers 100 per cent capital protection if the index has not fallen 50 per cent below start point at any point during the life of the fund.

The firm hopes to capitalise on a recent turnaround in the Japanese economy resulting in increased employment, rising household income and an improved property market. Its first Japanese accelerated return fund is up 44.5 per cent after two years.

CFM managing director Marc Gordon says: “The success of our first Japanese fund has led us to launch another Japanese-focused fund that can exploit the opportunities that this buoyant and growing economy can offer.”


Brown sinks Sipps

Chancellor Gordon Brown has axed property Sipps in a shock U-turn that consigns two years of hype and millions of pounds to the scrapheap. In his pre-Budget report on Monday, Brown stripped away tax relief on residential property going into pensions after A-Day and branded it a prohibited asset class incurring tax. The shock move […]

Bankhall is back with Aifa and pays fees for members

Bankhall is rejoining Aifa and its advisers will now get membership of Aifa paid out of their fees to the firm. The company says the move affirms its commitment to independent financial advice and underlines its support for the work of Aifa’s Chris Cummings and the ombudsman and feel that this will bolster its own […]

PFS supports CI name but rejects tiered cancer cover

The Personal Finance Society says the name of critical-illness insurance should be kept despite industry objections but two-tier cancer definitions are not a viable option. In response to the ABI’s consultation on best practice for critical illness, the PFS says CI should not be rebadged despite concerns it can mislead consumers. It warns that any […]

Nvesta launches Global Titans product

Nvesta is launching a new open-ended high income investment aiming to give an annual income of 7.5 per cent gross plus the potential for capital growth. The Global Titans Income Enhancer allows investors to claim all gains against capital gains rather than income tax. If an investor utilises their whole CGT allowance they can receive […]


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