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New Star&#39s global fund eyes China and Russia

New Star manager Paul Craig says its global portfolio fund will target econ-omic progress in China, India and Russia in the next 12 months.

Craig took over management of the fund one year ago and it has since risen by 13.92 per cent compared with an average rise of 4.79 per cent in the IMA active managed sector.

He says a key driver in the fund&#39s performance in the past year is its themed approach of identifying the best opportunities from the closed-end fund sector on a bottom-up basis combined with defined top-down asset allocation.

Craig says: “While high levels of debt and rising interest rates create a difficult environment for inv-estors, there are grounds for optimism about global financial markets.”


Debts are surging past £6m

Debts at David M Aaron (Personal Financial Planners) had risen above £6m by March this year and look set to rise further, says the firm&#39s administrator. In March, administrator KPMG accounted for £5m in debt and a further £1.8m for alleged precipice mis-selling claims but with new claims and new debts rev-ealed, this figure is […]

Zurich Assurance – Select Guaranteed Account Issue 2

Type: Capital-protected bond Aim: Growth linked to the performance of the FTSE 100 and Halifax House Price indices Minimum-maximum investment: £2,500-£250,000 Term: Five years and six months Return: 100% growth in each index Guarantee: Original capital returned in full at end of term regardless of performance of indices Closing date: October 25, 2004 Commission: Initial […]

ARs should submit multiple network applications – PMN

Intermediaries looking to become an appointed representative should consider submitting membership applications to at least three mortgage networks in order to ensure they are able to continue trading from M-Day, according to PMN. PMN believes that as many as 20 networks won&#39t be in a position to offering full network facilities to members by October […]

Aaron is first IFA firm to be banned for misselling

David M Aaron (Personal Fin-ancial Planners) has become the first IFA firm to be banned for misselling. It has been struck off by the FSA for widespread misselling of precipice bonds between January 1998 and June 2003. An FSA probe revealed that the company issued misleading ads and financial promotions which downplayed the risk of […]


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