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Durlacher debuts with duo

Stockbroker Durlacher is to offer funds for the first time managed by its in-house investment team.

The Durlacher growth plus and Durlacher blue-chip plus funds will be Oeics with sales administration provided by ACD City Financial.

The growth plus fund will be managed by Simon Steele who will select stocks regardless of sector, index or market capitalisation as Durlacher believes these factors restrict potential growth.

The blue-chip plus fund will seek to replace lost returns by selling options on stock. It holds around 40 FTSE 100 firms which it believes will cut their dividends this year. It will be managed by portfolio managers Andy Marshall and Ian Rankine.

Initial charge is 4.5 per cent and annual 1.5 per cent. IFAs receive 3 per cent initial commission and may be entitled to up to 0.5 per cent trail.

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