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Merrill Lynch launches first “hedge fund style” unit trust

Merrill Lynch is launching what it claims is the first long/short hedge fund style fund aimed at retail investors.
The Merrill Lynch UK absolute alpha fund is the first fund in this country to take advantage of Ucits regulations to allow conventional long-only only investments alongside short-selling of stocks where it considers a stock price will decline.
The fund is managed by Mark Lyttleton and aims to achieve a positive return for investors in all market conditions. Unlike a hedge fund, the Merrill Lynch absolute alpha fund cannot leverage its portfolio by borrowing additional money to invest.
Merrill Lynch managing director, UK retail business Richard Royds says: “We are confident that this fund provides a highly attractive new strategy for investors under intermediary advice.”


Exchange sale sanctioned

The acquisition of Marlborough Stirling by Vertex Data Science has been sanctioned by the high court of justice.Marlborough Stirling is the parent company of IFA portal The Exchange.Vertex, a subsidiary of United Utilities, bought the company in March for 95.3m.It is expected to take control from 12 May.

Skandia offers active protection

Skandias protected portfolio investment range provides capital growth linked to an equally weighted portfolio of five externally managed funds with varying degrees of capital protection and return over a five year term.

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Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


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