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The Daley Update

Newton head of fixed interest Helena Morrissey has been promoted to chief

executive after a string of departures last week. Theresa Egan will take

control of Morr-issey&#39s high-yield bond and European high-yield bond funds

while Stewart Cowley will manage the international bond fund. Ed Britton

will become head of fixed interest.New Star Asset Man-agement has poached

Toby Thompson from Newton to manage its new higher income unit trust, to be

launched later this year. Thompson has managed Newton&#39s higher income fund

since 1996, in which time it has become a top performer.Close Fund

Manage-ment launches its FTSE4Good UK fund this week, which will track the

new FTSE ethical index. Minimum investment is £1,000 or £100 a

month and the fund is available for both Pep transfers and Isas. The

initial charge is 4 per cent. Annual management charge is 1 per cent. The

offer period runs until July 31.Baring Asset Manage-ment has appointed Jan

Mantel as director and head of its UK & Europe equity team. He joins from

Merrill Lynch.Britannic Asset Man-agement has launched a split-capital

investment trust investing in UK equities. The Britannic UK income trust

will offer income shares, ordinary capital shares and zero-dividend

preference shares.

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The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.

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