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F&C High Income Fund unit holders vote to change allocation

Foreign & Colonial High Income Fund unit holders have agreed proposals to change the investment weightings in the fund.

The vote to modify the weightings follows changes to Advance Corporation Tax credits which came into effect on April 6.

The fund has reduced its equity holdings in favour of bonds enabling it to qualify as a bond fund and gain favourable tax status.

The proposed proportion of assets is as follows: special debentures 0-60 per cent, equities 0-60 per cent and other fixed interest securities and cash 0-100 per cent.


VCTs close books after meeting aims

Two venture capital trusts have closed fully subscribed despite fears last year there was oversupply in the sector.The Singer & Friedlander Aim VCT, promoted by Matrix-Securities, has raised £16.5m.The VCT originally sought £15m but, after heavy demand, increased the amount by the 10 per cent allowed under VCT regulations.It has already invested more than £700,000 […]

Family Assuraance launches commission paying Isa

Family Assurance has launched a Cat standard Isa that pays IFA commission.The Family Equity Isa, which has an annual management charge of 1 per cent, offers trail commission at 0.25 per cent.The Isa will invest in the Family balanced unit trust, 50 per cent of which is invested in European Union stocks and shares.The minimum […]

Specialist Investment and Pension IFAs most sought after in recruitment stakes

Investment and pensions experts are the most sought after personnel in the IFA industry according to financial headhunders.Recruitment specialists Options Search & Selection, which is planning to expand its presence in the life industry, has provided IFAs with an insight into their market value.Director Martyn Lofting says that brokers specialising in investments and pensions can […]

Buy-to-let exclusive for IFAs

Scottish Widows Bank&#39s first buy-to-let mortgage is to be distributed exclusively through IFAs.The loan offers the drawdown facility of the Flexible Account, subject to the mortgage being up to 70 per cent loan to value. The drawdown limit will normally be 10 per cent of the mortgage with a maximum of £20,000.A capital and interest […]


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