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SVT NAV beats world index fall

The Scottish Value Trust has announced its year net asset value fell by 5.9 per cent compared to the FTSE World Index which fell 24.7 per cent.

It says it has a gearing ratio of 20 per cent and hedge funds now make up 28 per cent of the trust.

It will pay out an unchanged dividend of 12.5p a share in January.


Aegon pays out £1m for 9.2% stake in Lighthouse

Aegon is continuing its distribution purchases by taking a 9.2 per cent stake in national IFA group Lighthouse worth £1m.At an EGM this week, the Aim-listed IFA also approved a similar stake taken by Skandia, announced last month, for £1.2m.Lighthouse has so far attracted 170 of Canada Life&#39s recently offloaded direct salesforce of 200 on […]

Intelligent approach

Scottish Mutual&#39s multi-manager portfolio service, Investment Intelligence, provides access to three pre-packaged funds from its sister company Inscape. Or investors can choose from a range of six multi-manager funds from institutional fund management group Attica.Assessing how II fits into the market, Gilbey says: “It is a sophisticated, flexible and structured multi-manager investment option within the […]

Trackers can put up to 20% in one stock

Tracker funds can invest up to 20 per cent in a single stock with the new FSA rules.Firms will get more freedom in replicating the composition of an index. In certain circumstances, single stock holdings of 35 per cent will be allowed.Firms were unable to hold stocks to reflect the true composition of an index […]

Inter-Alliance suspends director at Mayfair base

National IFA Inter-Alliance has suspended London-based regional director Tony Davis while it says “certain matters are being investigated”.Lawyers are believed to be involved and Inter-Alliance chairman and chief executive Keith Carby says he cannot discuss the reasons for suspending Davis from the Mayfair practice while the situation is being looked into.But Money Marketing understands that […]


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