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New form of investment claims to offer dual benefits

A revolutionary fund set up this week giving exposure to blue-chip

companies is set to go head to head with unit trusts and investment trusts.

The UK market&#39s first exch^_ange-traded fund, called iFTSE 100, embraces

the benefits of both shares and funds.

The fund, set up by iShare, is a new investment tool and, like the shares

of any listed company, investors can trade in them at any time during

market hours through any stockbroker.

But, like a fund, the shares will provide instant expo-
sure to an

entire market or sector index.

The annual management charge is 0.35 per cent. Normally, no stamp duty

will be incurred dealing in iFTSE 100 shares and they can be inc^_luded in

an Isa. The launch price of the shares is 10.

The iFTSE100 fund is the first of several planned funds to be listed on

the London Stock Exchange in its Extramark index.

It will be managed by Barclays Global Investors.

iShares director John Dem^_- ^_aine says: “The fund marks the beginning of

a change in the investment landscape in the UK. iShares&#39 simplicity,

flexibility, transparency, inst^_ant diversity and great value for money

will make them attractive to a wide range of investors for an enormous

variety of uses.”


Pressure increases on Standard Life to convert

Pressure has increased on Standard Life to demutualise as one of the largest with-profit policyholders has jumped on the conversion bandwagon.Barclays Global Investors, the second largest institutional investor has publicly lent its support to the cause of carpetbagger Fred Woollard, who is leading the charge to demutualise.Scottish Value Management head Colin McLean, another large investor […]

Invesco website teaches the bear necessities of saving to children

Invesco is offering a 2 per cent discount to investors in its Rupertchildren&#39s fund until May 12.The fund is designed to introduce a fun element to the idea of saving forchildren while building up a lump sum over the longer term.As part of the idea, Invesco has developed a Rup^_ert section within itsretail website.The site […]

Housing market cools in London and the southeast

A survey from the Royal Institute of Chartered Surveyors reports that housing prices are cooling off in London and the southeast.In the three months ending on March 31, the results indicate that while prices still rose, they did so at a slower pace than in the previous period. Just over 60 per cent of those […]

Complex bill must have more time

Why so little comment on the committee stage of the Financial Services andMarkets Bill wending its torturous way through the House of Lords withnearly 1,500 amendments being debated and more to come?This bill is intended to replace the 1986 Financial Services Act which wasitself rushed through Parliament with numerous quirks and flaws that MMcolumns attest […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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