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INVESTMENT Update

The merger of Old Mutual Asset Managers and Gerrard Investment Funds has led to head of fixed interest Bob Attridge and head of emerging markets Ashok Shah both losing their positions. They have been offered alternative roles within the company.

Lincoln Unit Trust Managers is permanently reducing the initial charge on its corporate bond product to 3.5 per cent from 5 per cent. LUTM says the cut will directly affect yields on the product, increasing income yield to 6.41 per cent from 6.31 per cent and the gross redemption yield to 5.31 per cent from 5.10 per cent.

Royal London Asset Management has app-ointed Victoria Muir as marketing manager of investment trusts. Muir joins in the new year from LeggMason Inves-tors Asset Managers.

Aberdeen Asset Management has appointed Simon Akroyd and James Thompson to establish a private-client office in London. They both join from Cazenove.

Friends Ivory & Sime Private Equity is to be renamed Isis Capital. The company says its core areas of interest will remain business services, consumer markets, healthcare, information technology and media and communications.

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