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EFM turns trusts into Oeics

Edinburgh Fund Managers is set to convert its £600m in unit trusts into an Oeic.

Group sales and marketing director Nigel Whittingham says the company is committed to transferring all its 21 unit trusts into open-ended investments.

Edinburgh&#39s unit trust business represents 12 per cent of its £7.4bn total assets under management

It also has £3.8bn in investment trusts, £300m held by private clients, £2bn in pension funds and £700m in North America.

Whittingham says: "We are committed to Oeics and believe they offer a natural rationalisation of the unit-trust ind ustry. It is too early to say when conversions will take place but it is more than one year away and could be some time in 1999. Oeics is the direction the market is going towards and we want to be part of this and do not intend to be left behind."



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I have crossed swords with the national press more times than I can remember in defence of the endowment mortgage. This has included skirmishes with financial journalists working for the so-called quality press, whose argument is based on little more than the fact that somebody has earned commission and, therefore, it must be a bad […]

Pensions&#39 concern at NI moves

The Government is increasing employers&#39 National Insurance contributions to 12.2 per cent, prompting calls for IFAs to review their clients&#39 pension arrangements urgently. The Chancellor is radically restructuring the NI system. Under the new regime, employers only pay contributions over the new lower earnings&#39 limit of £81 a week. Brown ditched the system of four […]

GRE transfers staff to cross-sell products

Guardian Royal Exchange is transferring its staff into one company, Guardian Direct Services, to enable it to cross-sell products across the group.


What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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