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Merrill Lynch brings in new investment option

The new Merrill Lynch defined income and growth fund is an investment trust aimed at investors who are looking for either income or growth.

Investors can choose income shares that offer a yearly income of 9.25 per cent, paid quarterly, or zero dividend shares that give a capital rollup option of 30.4 per cent after three years. The trust aims to achieve these yields by investing in a portfolio of 30 large companies that cover eight sectors over three geographical areas.

It will invest in the banking, telecommunications, oil, pharmaceuticals, car industry, media, technology and consumer goods sectors in the UK, Europe and US. Some of the companies that it will invest in include British Telecom, Ford, Chase Manhattan, Siemens, Proctor & Gamble and Walt Disney.

By spreading the investment in this way, this makes defined income and growth a low risk investment. In the event that one company or sector falls in value, this can be counterbalanced by stability or a rise in value of one of the others.

According to Standard & Poor’s the Merrill Lynch keystone investment trust is ranked 20 out of 21 funds, based on £1,000 invested on a mid to mid basis with net income reinvested over three years to November 20, 2000.


Birth pains as Widows demands originals

A move by Scottish Widows to accept only originals of customer birth certificates is causing serious delay to people buying an annuity.The decision followed a memo from the ABI reminding the industry of its obligations under Government regulations restricting the use of copies of birth certificates.The IFAs say customers with pension plans with several providers […]

L&G charges on

Legal & General is entering the market for stakeholder-friendly pensions with its single charge pre-stakeholder group personal pension. Flexibility is the most important feature of stakeholder friendly pensions and this product is competitive compared to some products which claim to meet the stakeholder criteria. There is a minimum contribution of £20 a month, which can […]

Mercury Private Equity sets up new £4m fund

Mercury Private Equity has set up a new £400 million fund which will invest in healthcare, support services, general buyouts and the media sector. It will target mid-market firms in Britain and Europe with values of between £2 5million and £250 million as well as existing Mercury investors. Mercury chief executive Ian Armitage says “£360 […]

Abbey National adds new fund to pool

Abbey National Asset Managers is offering more choice on its pooled fund range. The pooled global equity fund is aimed at managers of group personal pension plans and trustees of defined benefit contribution schemes who are looking to expand their portfolio of investments. Fifty per cent of the fund will be invested in UK stocks […]

Stop the cold-calling

Royal London is pleased to support the petition calling for a ban on cold-calling for pension and investment products. The petition, launched by IFA Darren Cooke of Red Circle Financial Planning and hosted on the Parliamentary website, calls on the Government to ban cold-calling for pensions and investment products. A similar ban is already in force […]


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