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Edinburgh Income and Value Trust raises £50.4m

Edinburgh Fund Managers has raised £50.4m for its new Edinburgh Income and Value Trust.

The split capital investment trust achieved the total through the placing of ordinary and zero dividend preference shares and bank borrowings. Dealing in the shares is expected to commence on April 8.

The trust&#39s objective is to achieve growth in income and capital. It will invest in a UK based equity portfolio, primarily outside of the FTSE 100 stockmarket index.

Ordinary shareholders will receive a high income, forecasted initially at 9.6 per cent. Zero dividend preference shares have a redemption yield of 7.9 per cent on May 31, 2005.


Midland Bank launches new mortgage range

Midland Bank has launched a range of new mortgages.The range includes a two-year fixed rate mortgage at 5.25 per cent offering 95 per cent loan to value and aimed at first time buyers.First time buyers will also receive £250 towards legal fees and a refund of the £295 booking fee. Additionally a 20 per cent […]

Britannic launches ISA range

Britannic Assurance has launched a full Isa range including cash, insurance and equity options.The cash option, a mini Isa, has an initial deposit of £1,000 with further deposits of £250.The insurance option is a with-profits fund, with an initial investment of £1,000 or monthly contributions of at least £50. Additional lump sum investments must be […]

BGI appoints Andy Gibbs as regional sales manager for London

Barclays Global Investors has announced the appointment of Andy Gibbs as regional sales manager for London.Gibbs formerly with M&G for ten years joins BGI from The Medical Insurance Agency.He replaces Terry James who will now look after BGI&#39s institutional business.The company has also extened its broker line service with the recruitment of Peter Wilson as […]

Ritchie dismisses Government&#39s marketing ploy

Scottish Equitable&#39s pensions expert Stewart Ritchie has dismissed the Treasury&#39s plan for Pooled Pension Investments as a Government marketing ploy.In the latest edition of The Ritchie Papers, he describes the Government the new vehicle as the &#34LISA let down&#34.He believes the proposals originally dubbed the Lifelong Individual Savings Account, but now renamed the Pooled Pension […]


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