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Investec rides on Euro star

Investec Guinness Flight&#39s swoop for former Scottish Widows European fund

manager Albert Morillo is paying off just days after the launch of its

restructured European funds.

Investec and Morillo met leading multi-managers, including Henderson,

Lazard and Rothschild, on Friday to promote the funds. The funds have taken

more than £10m, with multi-managers rushing to put them on their buy lists.

Many multi-managers and IFAs ditched Widows&#39 European fund from their buy

lists when Morillo left to join US outfit BlackRock in December.

But two months ago, Investec signed up Morillo to run its European

offshore and onshore funds in a bid to make inroads in the UK retail


Morillo says he will run the funds in a similar way to the Widows fund,

with a concentrated portfolio of about 40 stocks.

Investec Guinness Flight Unit Trust managing director Jamie MacLeod says:

“We have had a massive positive response.”


Chase starts up fund supermarket

Chase Manhattan Bank&#39s global investor services is linking up withe-technology company Investia in a $20m venture offering an outsourced fundsupermarket service to product providers.FundsHub is aiming to target banks and insurers looking to break into theonline investment market for the first time.Product providers can connect to the supermar ket and offer their prod-ucts direct.The companies […]

Merger will give TMO more clout in e-loan market

The Mortgage Operation is merging with its German equivalent, Haus &Capital, having attracted £5m in venture capital to spend on UK expansion.The move, revealed in Money Marketing in February, has given birth toCreditweb, a pan-European e-commerce mortgage company poised to dominatethe fight for Europe&#39s internet-based personal finance market.The merger gives Creditweb access to £19.5m in […]

Treasury&#39s ban on fees putting Cat loans at risk

Lenders, brokers and MPs have accused the Treasury of risking a mortgagemisbuying scandal by banning intermediaries from charging fees onCat-standard mortgages.The Government claims the Cat improves borrower protection but the Councilof Mortgage Lenders is concerned that the take-up of Cat mortgages could berestricted if brokers do not get a fee for advice.Opposition MPs are warning […]

IFAs get a line on The Exchange

The Exchange is offering IFAs free ISDN installation and WAP mobile phonehandsets in a move it says will speed up its quotation service. The companysays the ISDN connections will give intermediaries faster access to productquotations, business services and financial strength research through itsExweb service.The offer is running alongside The Exchange&#39s WAP launch to consumerswhich will […]

Flexible reversionary trusts and estate planning

The suitability of different estate planning solutions will depend on the individual’s own circumstances, needs and objectives. When considering the different solutions available there is a trade-off between inheritance tax (IHT) efficiency and access. Overall a flexible reversionary trust provides a greater level of flexibility than a discounted gift trust and can offer individuals a […]


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