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Neville James adds funds in switch to Challenger name

Tep specialist Neville James is to expand its investment operations with

two new funds and a rebrand of its existing funds under the Challenger name.

The move comes in preparation for the launch of parent company

Challenger&#39s UK life company, scheduled for the first quarter of next year.

The Australian financial services group bought Neville James in April for

£6.65m.

The funds to launch in autumn are a corporate bond fund and a guaranteed

equity-linked fund. They will be part of a new Challenger onshore Oeic.

Neville James currently has three funds, which are all based in the Isle

of Man. The firm is applying for FSA recognition on its zero dividend

preference share fund, which will enable it to promote it directly to the

IFA market.

Its investment operations will all be rebranded under the Challenger name

but the Neville James brand will remain for Tep business.

As part of the restructure, the firm has taken on seven new recruits for

its salesforce in a bid to crack the IFA market. The team of 10 will be

headed by Challenger national sales manager Tim Hines.

Challenger managing director John Heller says: “Challenger has enabled us

to expand at a faster rate than would have been possible before. With the

new structure and resources behind us, we can only go from strength to

strength.”

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