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Morgan Stanley forecasts F&C outflow

A report on F&C by Morgan Stanley has predicted an outflow of 3bn in assets under management this year, after suffering outflows of 4.7bn last year. A 25-page Morgan Stanley report said F&C has suffered following its merger with Isis last October. The Morgan Stanley report says unit trust sales moved from an 85 million net inflow in the first half of 2004 to a 44 million net outflow in the four months to October 2004. This week F&C announced the appointment of Brian Larcombe and Philip Moore to the board as non-executive directors.

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Fidelity Investments ready to launch Sterling bond

Fidelity investments plan to launch their Sterling bond fund in April. The fund, which will be available from April subject to FSA approval, will be managed by Ian Spreadbury. It will sit alongside the Fidelity MoneyBuilder and Extra Income funds. Ian Spreadbury will invest principally in UK investment grade bonds, but he is also free […]

Portman BS relaunches core mortgage product range

Portman Building Society has relaunched its core mortgage product rangee.Changes are effective from January 29 2005.The range is as follows:2 year fixed at 2.35 per cent2 year fixed, direct business at 4.48 per cent2 year fixed, introducer only at 4.74 per cent3 year fixed at 4.79 per cent5 year fixed at 4.89 per cent2 year […]

Framlington income fund soft closure

The Framlington equity income fund, managed by George Luckraft, is to soft-close from Friday 25th February 2005 by raising its initial charge to 5.25 per cent. The fund now holds 658m having grown from 157m at the end of 2003. Framlington says that there could be a risk to the funds performance should it continue […]

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