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FI&S releasingnew issue of Isis shares via IFAs

Friends Ivory & Sime is releasing a new issue of shares in its Isis investment trust exclusively through IFAs.

The new issue comes just a few weeks after shareholders voted overwhelmingly to continue the trust for another seven years as it approaches its original wind-up date of October 31.

Although the trust pays no dividends, investors can take a fixed annual income of upto 10 per cent through the sale of shares.

FI&S is encouraging share- holders to exploit their capital gains tax allowance, which allows tax-free gains of up to £7,200 a year.

Minimum investment in the trust is £5,000. There are no initial or exit charges. Commission is 3 per cent initial and 0.5 per cent trail.

FI&S marketing director John Yule says: “There are no institutional investors in the Isis trust – this is a purely retail product which we have tailored for the IFA.

“IFAs are our most imp-ortant distribution channel and we want to continue to build on that.”

David Aaron Partnership investment adviser Jason Bevan says: “It is always good for people to use their capital gains tax allowance but this is probably for the more medium-risk investor than the older person.”


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