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Investment update

Britannic Asset Manage-ment is offering a 1 per cent discount on its four global sector funds until April 30. The discount will take the initial charge on the global healthcare, global technology, global resources and global financials funds to 4.25 per cent from 5.25 per cent. The funds have an annual charge of 1.5 per cent. Minimum investment limit is £500. Commission is 3 per cent with 0.5 per cent renewal.

Exeter Fund Managers is offering a 1.5 per cent discount on the Duncan Lawrie smaller companies fund until the end of April and has renamed the fund the Exeter smaller companies unit trust. The discount, which runs until the end of April, will take the initial charge to 3.5 per cent from 5 per cent. The annual charge is 1.5 per cent. Exeter is also offering a 1 per cent discount on its global opportunities fund until April 5, taking the initial charge to 4 per cent from 5 per cent. The annual charge is 1.25 per cent. Both funds have a minimum investment of £1,000 or £500 within an Isa. Commission is 3 per cent with 0.5 per cent renewal.

Former Rathbone star fund manager Patrick Evershed has been recruited by New Star to run its next new fund. Evershed, who ran the Rathbone special situations fund, left the firm three weeks ago after a dispute with the company. He is now expected to run a similar special sits fund at New Star, which will be launched within the next few months.


Abbey National pins safety on growth

Abbey National has introduced safety plus growth issue 6, a guaranteed equity bond that is linked to the FTSE 100 index over a five-year term.The product guarantees the return of the original capital plus a minimum of 20 per cent growth. The maximum potential growth is 60 per cent at the end of the term. […]

Old Mutual profits slip to £81m

South African financial services group Old Mutual saw its profits plunge to £81m from £1bn last year. Profits in its overseas properties including the UK fell to £770m from £824m, partly due to the £19m it spent in setting up funds supermarket Selestia in the UK last year.


Should a fund manager&#39s investment process be ignored when choosing a fund?“No, that is just about the most important thing you have got to refer to as far as how the fund is going to perform.” Scott Clayson, Professional Financial Services “No. When choosing an investment, the manager&#39s process is part of the criteria one […]

Premier closes as Brain misses corporate target

Mortgage Brain has shut down packaging arm Premier Processing after 18 months after failing to generate enough business from corporate clients.The company set up the packager to allow customers, including Royal Liver, to outsource their mortgage business and get help in establishing themselves in the market.But Mortgage Brain director Mike Green admits the client base, […]


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