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Fund firms’ ad attack to pick up Fidelity fallout

Fidelity’s competitors are launching a multi-million- pound marketing onslaught to go after redemptions from Anthony Bolton’s 5.5bn UK special situations fund.

Merrill Lynch is running a 3m ad campaign with its latest poster featuring an envelope with the words, Special Delivery and the postmark “Delivered better results than 99 per cent of the sector”.

Richard Plackett’s 177m special situations fund is understood to be taking 3m to 5m a week in inflows.

Artemis communications director Nick Wells says Bolton’s fund is now getting less attention from IFAs.

The Artemis special situations fund, run by Derek Stuart, has increased its sales from 300,000 a day to 1m a day since September, when Fidelity announced plans to split its special sits fund in two in anticipation of Bolton’s retirement.

Rathbones is looking to package Carl Stick’s special sits fund with James Thomson’s global opportunities fund for an advertising push in early 2006.

Fidelity is declining to comment on the moves.

Merrill Lynch head of UK retail Richard Royds says: “At every single investment seminar we attend, a question is asked about special situations. Bolton’s fund has been an extraordinary success and I hold it myself but people are looking at it in a different way from before and they are considering alternatives.”

Hargreaves Lansdown senior investment analyst Meera Patel says: “The alternative funds could see inflows of poten- tially double-digit millions per week. My only worry is whether the managers will be able to put all the money into the market in time.”


PPI says union deal will not mean higher taxes

The Pensions Policy Institute says business leaders are wrong to suggest that the Government’s agreement with unions over public sector pay will have to be funded by higher taxes. The body, which is an independent charitable think-tank which gives non-party pol- itical comment in the field of pensions, has issued a briefing note contradicting the […]

F&C rethinks buyback policy

The F&C investment trust has announced a new buyback policy to keep its discount at 10 per cent or lower. The board has been concer-ned about the size and volatility of the trust’s discount to NAV. The aim is to reduce discount volatility, making shares more attractive to potential shareholders and giving reassurance to current […]

Craig Inches – thoughts on how to preserve capital and generate income in an inflationary environment

In this short video, Craig Inches, head of short rates and cash at Royal London Asset Management, offers his thoughts on how to preserve capital and generate income in an inflationary environment. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well […]


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