SG Asset Management is combining its European and technology funds within its new EuroTech Isa. The Isa will have a 2 per cent discount until April 5, 2001, reducing the initial charge to 3.25 per cent. It is part of a drive to boost the popularity of SGAM's AA-rated European fund, which has been in the shadow of the popular technology fund. SGAM will also launch a global fund of funds at the beginning of next month.
Schroder has appointed David Gasparro as head of retail investment. Gasparro, who moves from Schroder's Investment Strategy Unit, will be responsible for the performance of the retail funds worldwide.
Ruth Clarke has joined Cofunds as chief operating officer. She was previously a director of sales and marketing at CGU but left the company during its merger with Norwich Union this summer. She will be responsible for the marketing of Cofunds' customer services. The appoint-ment comes as part of a recruitment drive by chief executive Sam Jensen, who plans to build the staff to around 70.
EMX, the online messaging exchange for trading investment funds, is teaming up with several similar global platforms to allow UK investors to trade in funds across the globe. The joint venture will develop EMX to make it compatible with trading platforms such as Crest and Swift, and aims to reduce costs and speed up global investment transactions.