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Merrill Lynch launches fund

Merrill Lynch Investment Managers has unfurled an institutional fund which is to be measured against an equally weighted FTSE 100 benchmark.

Called the KWS British Companies fund, it intends to have a total risk lower than a FTSE 100 tracker fund.

The aim is not to have more than 5 per cent in any stock or more than 12 per cent in its top three largest holdings.

Furthermore, the fund won’t invest more than 15 per cent in any one sector and will always hold at least 50 FTSE 100 stocks.

Merrill Lynch fund manager Mark Wharrier says "This fund will offer clients a new method of diversifying their absolute risk, whilst maintaining a focus on investment in the UK’s largest companies."


Rulebook breaches cost NatWest £750k

NatWest Bank has been fined a total of £750,000 by industry regulators the PIA and Imro for rulebook breaches. The bank must also pay £2.35m in compensation to about 4,500 investors for failing to give agreed discounts. The PIA fined NatWest £500,000 for compliance failings which were discovered during monitoring visits in 1997, including a […]

Improving access for customers

Legal & General is re-vamping its website to help users contact its cu stomer care team more easily. Customers can access the new online help service either at the website&#39s help and advice section or at the start of the online pension application section to reach L&G customer services staff. Through a separate window customers […]

Kempster leaves DBS Network

DBS Network chief executive and managing Tony Kempster is leaving the network in a shock departure to be replaced by Assureweb boss David Stewart. The news of Kempster’s resignation has rocked the network with members showing their concern. DBS has offered no explanation for Kempster’s resignation and Kempster was unable to comment on his reasons […]

A Consumer&#39s View

The battle to retain polarisation, closely fought by consumer groups and IFAs, is all but over. The Government made up its mind long ago that it would be prepared to see polarisation fall by the wayside in return for the bancassurers and others promoting stakeholder. Anyone who believes the “consultation” is anything other than a […]


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