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F&C bids to boost IFA business with 10 UK unit trusts

Investment trust specialist Foreign & Colonial plans plans to build its role in the IFA market with 10 new unit trusts.

The new unit trusts or Oeics will be launched over the next five years and will focus on UK sectors.

The first trust is due on the market in the first quarter of 2001 in time for the Isa season.

F&C plans to recruit seven regional sales managers by the end of the year to prepare itself for a business boost.

It also plans to take on an e-commerce manager to bolster its presence onthe internet.

As the products are rolled out, the company will accompany them with aggressive advertising targeted at IFAs.

F&C is well known for its investment trusts in the UK, especially its flagship fund, the F&C Investment Trust.

IFAs welcome the move by F&C, saying it is logi-cal for the company to launch unit trusts on the back of its investment trust reputation.

Hargreaves Lansdown investment manager Ben Yearsley says: “It sounds like a good idea to me. Most people know the F&C brand name. There is no reason why it should not launch unit trusts on the back of its investment trusts.”

F&C head of UK retail Philip Childs says: “We see the UK IFA as having an important role for distributing our products.”

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