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Fund offers for the Isa season

First State Investments is to offer a 0.5 per cent discount on all investments of £5,000 into its British mid-cap fund. The discount will run from the fund&#39s launch on February 11 until the end of the tax year and will reduce the initial charge to 3.5 per cent from 4 per cent. Annual management charge is 1.4 per cent.

Artemis is offering a 1 per cent discount on all Isa and Pep transfers into its income fund before March 1. The discount will reduce the initial charge on Isas and Peps to 3 per cent from 4 per cent. Annual management charge is 1.5 per cent.

Newton is giving a 1 per cent discount on its UK opportunities fund during its initial launch period, which runs until February 8. The discount will reduce the front-end charge to 3 per cent. Annual management charge is 1.5 per cent.

LeggMason Investors has set up a UK active income Isa, bringing together its income and monthly income unit trusts. Minimum investment in the UK income fund is £3,000 and £1,000 in the monthly income fund. The UK income fund has an annual charge of 1.5 per cent and the monthly income fund has an annual charge of 1.25 per cent. The Isa&#39s initial charge is 3.25 per cent.

Britannic Asset Management has a range of discounts and increased commissions on its corporate bond funds until the end of April. The Britannic corporate bond fund gives IFAs the option to take up to 3.5 per cent initial commission rather than the standard 3 per cent. The high-income bond fund has a 0.75 per cent discount, taking its initial charge to 3.5 per cent.

Pavilion Asset Management set up its first two retail funds this week. The Pavilion UK growth fund and Pavilion SRI fund both have minimum investments of £500 and are available at a 1 per cent discount until the end of the offer period on February 7. The discount will reduce the initial charge to 4 per cent from 5 per cent. Annual management charge is 1.5 per cent.

Misys IFA Services has produced a list of its eight recommended funds for its network members for the Isa season based on its research into top-performing funds. The eight funds are Framlington health, Gartmore stable growth, Henderson ethical, Investec European, Royal & Sun Alliance maximum income bond, Schroder UK equity, Threadneedle European select growth and Axa multimanager.

Invesco Perpetual is to introduce a phased investment option allowing IFAs to dripfeed client money into the market over either three, six or 12 months. The new service, which will be available from February 5, applies to all Isa and Pep transfer business on Invesco Perpetual funds. Invesco Perpetual is also offering a 2 per cent discount on all new business into Invesco Perpetual Isas until the end of the tax year. The discount will reduce the initial charge to 3.26 per cent from 5.26 per cent. Annual management charges vary between 1.25 and 1.5 per cent.

SG Asset Management is offering a 2 per cent discount on all lump-sum Isa investments until the end of April. The discount will reduce the initial charge to 3.25 per cent. The annual management charges vary between 1.25 and 1.75 per cent. SGAM is also giving a 0.5 per cent discount on all non-Isa business into its sterling corporate bond fund until April 30. The discount will reduce the initial charge to 3 per cent. Annual management charge is 1.25 per cent.

Merrill Lynch Investment Managers is offering a 2 per cent discount on all lump-sum Isa investments into its UK dynamic fund until the end of the tax year. The discount takes the initial charge to 3.25 per cent. Annual management charge is 1.5 per cent.

Old Mutual Asset Managers is launching a UK mid-cap fund on February 11. It will be jointly managed by star UK small cap manager Ashton Bradbury and UK growth manager Richard Moore.

Manager of managers specialist io investors is offering a fund of hedge funds. It will aim to be lower-risk than most hedge fund products, with a target return of around 8 to 12 per cent a year. Minimum investment is e125,000 (£77,000). There is a 1.5 per cent annual management charge for investments of less than e5m (£3.1m) and a 1 per cent charge for investments greater than e5m.

Recommended

Franklin Templeton Investments – Mutual Shares II Fund

Wednesday, January 23, 2002.Type: Ucits.Aim: Growth by investing in US equities and global equities.Minimum investment: $5,000 or currency equivalent.Place of registration: Dublin.Investment split: US equities 80 per cent, global equities 20 percent.Isa link: Yes.Charges: Initial up to 5 per cent, annual 1.5 per cent.Commission: Initial 3.5 per cent, renewal 0.5 per cent.Tel: 020 7925 7171.

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