Equity & bond inc-ome manager Patrick Harrington is moving to Henderson
after 12 years at M&G. He will head the UK equity income desk, working
alongside head of retail Richard Prew, who was recruited from Norwich Union
at the end of last year. M&G's Richard Placket will take over the extra
income portfolio while Richard Hughes will be responsible for Charifund.
Neville James has introduced a new commission structure offering up to 4
per cent initial with 0.5 per cent trail on zero preference and secure
capital growth funds. The SCG fund has the option of up to 5 per cent
initial for those not taking trail. On the with-profits plus fund, IFAs
taking 0.5 per cent trail can take up to 3 per cent initial while those not
taking trail can get 5 per cent.
Invesco Perpetual is to launch a new aggressively managed UK unit trust
next week, to be run by star managers Stephen Whittaker and Ed Burke. The
UK aggressive fund will aim to double money over a three-year period.
Initial charge of 5.26 per cent and annual 1.5 per cent. Commission is 3
per cent initial with 0.5 per cent trail. Minimum investment is £1,000.