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Investment update

Aberdeen Asset Management has ext-ended the 1 per cent discount on all new Isa business into its corporate bond funds until the end of the tax year. The discount, which applies to the Aberdeen fixed-interest and sterling bond funds, cuts the initial charge to 3.25 per cent. Aberdeen&#39s high-yield bond fund is also now included in the offer.

Schroder star income fund manager Ian McVeigh quit the firm last week to start a hedge fund. McVeigh, who managed the £480m Schroder income fund, will be replaced by Humphrey van der Klugt, who manages the firm&#39s £880m UK equity fund. McVeigh leaves next month.

Equity unit trust and Oeic performance for January fell for the first month since September, according to Lipper&#39s monthly fund review. The average equity fund fell by 0.42 per cent while the average bond fund was up by 1.05 per cent. The best-performing sector was the Far East excluding Japan, with a return of 5.95 per cent.

Massachusetts Fin-ancial Services is cutting the initial charge on its three Oeic funds by 1 per cent to 4 per cent until the end of the tax year. Annual management charge is 1.5 per cent. Minimum investment is £1,000.


Green loan from the Co-op Bank

Co-operative Bank is offering a green fixed-rate loan with ecology-friendly features.The loan, fixed at 5.39 per cent until April 30, 2005, provides a free home energy rating report with the property valuation.The report covers the energy efficiency of the property and points out areas which can be improved financially and environmentally.Throughout the duration of the […]

Abbey appeals against FOS ruling in dual-pricing row

Abbey National is appealing against the Financial Ombuds-man Scheme&#39s initial ruling in favour of a borrower who complained about its alleged dual-pricing of mortgages.Last month, the FOS adjudicator upheld the individual&#39s complaint about their mortgage deal being linked to Abbey&#39s national standard var-iable rate of 6.1 per cent and not one of its new tracker […]

NU allows online term assurance

Norwich Union is launching a new service to allow IFAs to submit term assurance online. NU says the service can process applications from start to finish in around 15 minutes. It is available through its extranet site at The move comes after NU&#39s research found that 41 per cent of IFAs believe it takes […]

EMX is extended to IFAs&#39 clients

IFA clients will be able to pay for products electronically following an improved service from fund payment system provider EMX.The introduction of electronic payment settlement for intermediaries brings it in line with fund supermarkets and other online retail operations that can complete purchases electronically.IFAs will be able to take a client&#39s bank payment details and […]


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