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Northern Investors Company completes share issue

Northern Investors Company, the venture capital investment trust managed by Northern Venture Managers, has sold all of its recent share issue.

The 1.1m new ordinary shares, at 900p, raised £10m net of expenses.

Existing shareholders took up 79.5 per cent of the available shares, while 20.5 per cent were placed with institutional investors. The company now has net assets of over £50m.

Northern Venture Managers chairman Michael Denny says: “Over the past six months there has been a lot of investor interest in Northern Investors, following the company&#39s recent inclusion in the Edinburgh Fund Managers InvestIT marketing scheme. Reaching the £50m assets mark is a real milestone for us.”


Fleming Isa aims high

Chase Fleming Asset Management has introduced its Fleming funds individual savings account (Isa) to allow clients to make tax-efficient investments into a range of 17 Fleming funds for the first time. There are two ways that clients can invest. They can invest in either of the specially created European portfolio or technology portfolio. These allow […]

Equitable takeover deal may be in sight

IFAs predict a speedy res olution of the Equitable Life debacle after it was revealed that up to hundreds of FSA staff are burdened with pension top-up sch emes with the life office. The news comes as Aegon, GE Capital and AMP are understood to be lining up bids for the life office. While GE […]

Brokers boost CGNU but Pru IFA sales fall

Increased sales of Norwich Union products through IFAs contributed to CGNU&#39s overall business growth last year. In contrast, Prudential&#39s business results for 2000 were overshadowed by a decline in intermediary sales. CGNU, formed by the mer ger of CGU and Norwich Union in May last year, saw total new business sales worldwide rise by 24 […]

CGNU announces board changes

Richard Harvey will take over as CGNU group chief executive when Bob Scott retires from the post in April 2001. Harvey is currently deputy group chief executive. The promotion was initially planned when the boards of CGU and Norwich Union announced their merger in February 2000. CGNU group executive director for UK general insurance Mike […]


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