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Scot Eq closes 11 IFA branch offices

Scottish Equitable is closing 11 of its IFA branch offices in a restructuring that will see its branch numbers cut to 17 from 28. ScotEq says it wants to move to more focussed national &#39sales centres&#39 from its current branch structure.

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Octopus Asset Management – Eureka

Type: Enterprise investment scheme fund Aim: Growth by investing in unquoted UK companies and Aim companies Minimum investment:Lump sum £20,000 Investment split: 60% unquoted companies, 40% Aim companies Charges:Initial 5%, annual 2.25%, 0performance fee 20% Commission: Initial 2.5%, renewal 0.25% Tel: 0800 298 4472

Invesco Perpetual adds to distribution gang

Invesco Perpetual has added the Invesco Perpetual distribution fund to its Oeic fund range. This fund&#39s objective is income and growth by investing in a combination of at least 60 per cent in fixed interest and the remainder in equities. The fund will be managed by Paul Cause, Paul Read and Neil Woodford, who have […]

SFO to look into Penrose report on Equitable

Equitable Life&#39s former management may be the subject of a criminal investigation after it emerged that the Treasury has referred the Penrose report to the Serious Fraud Office. The SFO has confirmed it has received the 800-page report and will be looking to see whether it is appropriate for it to carry out an investigation […]

St James&#39s enjoys final-quarter fillip

St James&#39s Place saw new business rise by 24 per cent in the final quarter of 2003 despite a 4 per cent fall for the whole year. Investment new business leapt by 44 per cent to £26.1m annual premium equivalent in the last three months while protection business was up by 32 per cent to […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.

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