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Henderson offers free Isa transfers to tech fund

Henderson Global Investors is seeking to administer the final blow to moribund technology funds by offering investors free Isa transfers into its global technology fund until January 31.

In a move designed to help establish the fund as the biggest in its sector, Henderson is waiving charges to investors moving Isas through Cofunds and Skandia and offering discounts to those switching through Funds-Network. It is also allowing direct transfers at a discounted charge of 1 per cent.

Henderson is targeting investors in funds such as Edinburgh Fund Managers&#39 £700,000 tech fund, Credit Suisse&#39s global TMT fund and Britannic Asset Management&#39s global tech fund which are among the smallest of the 18 funds in the sector. At £269m, Henderson&#39s fund is the second-biggest in the sector behind Aberdeen&#39s £468.8m tech fund.

Head of UK retail Simon Ellis says: “While we have seen the dotcom bubble burst, investors who have sat through the downturn will want the reassurance of a long-term commitment from their manager.”

Simpsons of Brighton IFA partner Andrew Merricks says: “It is good to see a firm staying with the tech sector in anticipation of a future spike upwards.”

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