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Gartmore&#39s Prvulovich zeros in on stable growth fund

Gartmore is calling on the skills of star manager Richard Prvulovich for the launch of a new fund of zeros.

The stable growth fund is set for launch on July 11 and will invest in the zero-dividend preference shares of multi-share class closed-end investment trusts, such as split-caps.

The fund aims to provide long-term capital growth. It will have a gross redemption yield of 8.4 per cent.

Initial charge is 1.59 per cent and annual 1.5 per cent. There is an exit charge of 1.5 per cent for the first five years. Commission is 3 per cent initial with 0.5 per cent renewal. Minimum investment is £1,000. An Isa and Pep transfer version, the stable growth Isa, will be launched, with a minimum investment of £3,000. The Isa offers a monthly savings scheme from £50 a month.

It is the third zero fund from a major investment house this year following launches from Jupiter and Framlington.

Prvulovich says: “We think zero funds are ideal investments for a sizeable portion of retail investors. You are getting 2 or 3 per cent in a bank or building society but here is a slightly alternative investment which gives better returns for not much more risk in a tax-efficient manner.”


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Consumers&#39 Association director awarded Queen&#39s honour

Director of the Consumers&#39 Association Sheila McKechnie has been made a Dame Commander of the Order of the British Empire as part of the Queen&#39s Birthday Honours. McKechnie already holds an OBE, the most recent announcement upgrades her honour to a DBE.Also included in the Birthday Honours were former head of home financial services at […]

Misys goes mega in DBS deal

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GE buys National Mutual

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China’s economic bounce may already be over

By Mike Riddell (17 May 2016) Most people would explain the rally in global risky assets since mid-February as being primarily down to the spectacular volte-face from the Federal Reserve, where Janet Yellen (and others) dramatically toned down their narrative that the Fed would be hiking rates as many as four times in 2016. This explanation […]


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