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New Star nets £250m

New Star Asset Management says it has raised in excess of £250 million during the 3-week launch period of its UK Growth and European Growth Funds. The fund manager believes it could be the most successful open-ended funds launch ever.

The £251.5m is made up of £205.8m received and an estimated £45.7m of outstanding Pep and Isa transfers. Out of this, 5.1% has been received from existing clients, staff and directors of New Star Asset Management, including the managers of the two new funds. Sales of the UK Growth Fund, managed by Alan Miller were £113.5 million. The European Growth Fund, managed by Richard Pease, took in £92.3 million of the £205.8 million received.


Exclusive offering 105% LTV on loan

Mortgage packaging network Exclusive Connections is introducing a mortgageoffering 105 per cent loan to valuation. The product, which is funded by Mortgage Express, is based on a currentpayable rate of 6.25 per cent with a 1 per cent discount for two years. The loan is subject to income multiples of 3.25 per cent or 2.5 […]

Marsden goes for the five-year fix

Marsden Building Society has brought in the five-year fixed rate mortgage.The mortgage is fixed at 5.65 per cent until July 31, 2006 for loans of up to 80 per cent of valuation. After the fixed rate period the mortgage will revert to the Marsden’s standard variable rate.It comes with three months’ free mortgage payment protection […]

Clerical Medical takes commercial break

A new £1.5m Clerical Medical TV advertising campaign launches on August 1 and will run for four weeks developing the modern cleric and medic characters introduced last year.The ad stroryline centres around a professional married couple in their thirties, Paul, a doctor and Kate, a vicar.The intention is to illustrate how flexible financial products like […]

Staffordshire brings in 1.5% discount

Staffordshire Building Society has introduced the three-year discounted mortgage.The mortgage has a discount of 1.5 per cent in the first three years for loans of up to a maximum of 75 per cent of valuation. This gives it a payable rate of 5.24 per cent.Borrowers have several options to choose from. They can either take […]


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