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Five GAM unit trusts become Oeics

Global Asset Management is transferring five of its UK authorised unit trusts into its UK-based open-ended investment company, GAM Funds.

GAM launched its Oeic last year with the GAM Japan growth fund.

The five unit trusts being transferred are: sterling & international which becomes international growth, North America which becomes North America growth and Far East which becomes Far East growth. The UK diversified fund keeps its name while the sterling European fund becomes European growth.

Mutual funds director Martin Harrison says: "We are supporters of the single pricing provided by Oeics because it stops the problems of widening spreads between buying and selling prices. It is also more attractive because it is simple to understand and enables greater flexibility."


IFAs leading the way on high-net-worth business

IFAs are winning the battle to dominate the market for personal financial advice in the high-net-worth sector, according to an NOP survey. The survey of 1,000 people, commissioned by Radio 4, shows that over half of consumers in the higher-income brackets favour going to an IFA to help with their financial decisions. IFAs outscore banks, […]

Drawdown rundown

The flexible drawdown plan from Eagle Star is one of latest entrants into the competitive income-drawdown market. Our panel review the product and compare it with similar plans offered by Scottish Widows and Winterthur Life. The panel generally agree that the Eagle Star plan is suitable for its market. Bottriell says: “The suitability of the […]

Company to offer leads for mortgages

A new lead-generation and mortgage marketing company called The Mortgage Guild is to be launched in the spring. The company is being set up by chief executive Chris Scales who worked as a consultant on the launch of Mortgage Intelligence in 1996. The Mortgage Guild claims it will generate leads, market mortgages and act as […]


Money Marketing&#39s recent Financial Strength Survey revealed the operating costs and assets of insurance companies during 1996. Some of the most interesting figures were those relating to the cost of acquiring new business. The lowest figure was that of Equitable Life at 15 per cent. One of the reasons for this figure, as given by […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


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