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Seven IM wraps up for winter

Seven Investment Management, a subsidiary of stockbroker Killik & Co, has crossed the Atlantic to draw inspiration for its 7 IM wrap account.

Wrap accounts bridge the gap between funds of funds and discretionary investment management services offered by private banks and are popular in the US.

The 7 IM wrap account offers investors three investment options within an annual management charge of up to 2 per cent. The managed pooled option operates like a fund of funds by providing access to a range of externally managed funds from fund managers including Deutsche, Fidelity and Henderson. The funds will be chosen by a team of investment managers at Investment Manager Selection, which is headed up by Richard Timberlake. Timberlake was involved in the development of Fund Research, which subsequently became part of Standard & Poor&#39s.

The managed segregated option enables investors to trade individual European, Asian and US shares. This offers more variety than US wrap accounts, which can only hold US shares. JP Morgan Fleming, ABN Amro and Barclays Global Investors will manage this part of the product.

An advised option is also offered and this enables investors and their IFAs to construct their own portfolios of pooled investments and individual stocks and shares.

The wrap account concept is an attractive idea and is likely to generate interest from investors who feel that the double charging element of funds of funds is a problem. However, the major drawback of the 7IM product is the minimum investment of £150,000. This will prevent people with smaller sums from investing and will limit the appeal of the product to high-net-worth investors.


Norwich and Peterborough – Remortgage Scheme

Thursday, 3 January 2002. Type: Flexible tracker mortgage. Tracker term: Term of loan. Tracker rate: Bank of England base rate plus 0.5 per cent. Minimum loan: £1,000. Maximum loan: Up to 95 per cent of valuation subject to a maximum of £2m. Income multiples: 3.25 times principal income plus second or 2.6 times joint. Features: […]

Henderson leaps in to EuroTech

Henderson Global Investors is revamping its offshore Horizon range with the addition of nine new funds, including the Horizon Pan European technology fund.This Luxemburg-based Sicav aims to deliver long-term capital growth by investing in a diverse portfolio of stocks within the European technology sector. It will focus mainly on small caps, but may also include […]

Framlington rolls out best of British Isa

Framlington is kicking off this years Isa season with the launch of its Best of British Isa.The new Isa combines two of Framlington&#39s leading UK funds, its UK growth trust and UK smaller companies.Framlington has launched the Isa as it believes the UK represents one of the most robust economies in the world due to […]

Pink Home Loans – Exclusive Self Cert 5.15 Per Cent Fixed for 2 Years

Friday, 4 January 2002. Fixed term: Two years. Fixed rate: 5.15 per cent. Minimum loan: £25,001. Maximum loan: Up to 85 per cent of valuation subject to a maximum of £500,000. Income multiples: 3.5 times principal income plus second or 2.75 times joint. Arrangement fee: £299. Redemption fee: 5 per cent of amount repaid for […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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