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It&#39s a big gap, says AITC

Investment trusts have lower fund charges than unit trusts, according to the Association of Investment Trust Companies.

Its research shows annual expenses for unit trusts average 1.38 per cent compared with 0.83 per cent for investment trusts.

The trade body, which is responsible for the “its campaign” to promote investment trusts, says the gap is significant.

AITC director general Daniel Godfrey says: “A 0.55 per cent difference in total expenses over ten years on a £10,000 investment between two funds would amount to over £1,300, assuming growth of ten per cent.”


IF plans IFA marketing push

Halifax&#39s telephone and internet bank Intelligent Finance is starting a £30m marketing campaign targeting intermediaries.The new venture was launched last week and aims to use a number of customer communication channels including IFAs and web-enabled mobile phones to give customers access to personal banking services and mortgages.Intelligent Finance or “IF” says it needs to start […]

Colonial take Stewart Ivory

Colonial has confirmed it will buy Stewart Ivory for £72m, a move that the fund manager believes will allow it to expand its IFA product range.The acquisition will help Colonial broaden its international fund management capabilities and will trade under the name Colonial Stewart Ivory.The move brings together the “bottom up” investment styles of the […]

Banks and building societies still favourite

British households still prefer saving money through banks and building societies to putting their income in other financial assets according to FSA research.The paper by economist Iftikhar Hussain&#39s says that in spite of the UK&#39s image as being an increasingly share-owning society habits have not changed dramatically over the post-war period.FSA director of central policy […]

2,000 job cuts as CGU and NU merge

CGU and Norwich Union have agreed a £19bn merger, creating the UK&#39s biggest insurance group and costing 2,000 job losses in Scotland.The move will form a company powerful enough to take on the world&#39s biggest insurers including Axa and Allianz and will result in cost savings of at least £250m a year.CGU shareholders will hold […]


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