View more on these topics

Fidelity fund takes £43.1m in four weeks


Fidelity Investments Extra Income Fund has raised £43.1m since its launch on February 25.


The fund manager anticipates that sales of the fund, spurred on by the closing down sale of Peps, will reach £65m by the end of the tax-year on April 5.


The fund invests in corporate bonds, high yield bonds and gilts. It has an estimated gross yield of 7.5 per cent and was recently awarded a frAA rating from Standard & Poor&#39s Fund Research.


The award was in recognition of the track record of the fund manager Ian Spreadbury who also runs the MoneyBuilder Income Fund.

Recommended

Staffordshire launches savings accounts

Staffordshire Building Society is launching two savings products.Monthly Saver has an interest rate of 5 per cent and allows investors to save between £10 and £250 a month without a without a commitment to pay every month.Fixed term bonds will be available with terms of 1, 2 or 3 years at 5.35 per cent, 5.75 […]

Cigna Healthcare & Group Life appoints new managing director

Cigna Healthcare & Group Life has appointed Philippa Dickson as its new managing director.She joins from Bupa International, where she was a director responsible for developing the worldwide corporate, individual and group healthcare for expatriates.Dickson says: “My remit is to ensure that Cigna continues to develop innovative medical insurance products, which grow the business, while […]

BSA says mortgage market on even keel

Building Society gross mortgage advances grew to £1,351m in February from £1,255m the previous month.Approvals rose to £1,752m up from £1,291m. In the savings market, building societies attracted £302m up from £196m.BSA director general Adrian Coles says: “The only significant difference from the picture in January is a substantial increase in the levels of approvals.”

Axa Sun Life offers external fund links

Axa Sun Life is giving its pension fund clients access to a range of externally managed funds for the first time.Members of group personal pension plans, money purchase occupational schemes and income drawdown plans will be able to choose from six external funds and an Axa managed tracker fund.The external funds will be managed by […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment