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The Daley Update

Aberdeen Asset Management continued its acquisition drive by buying Ivory

& Sime Asset Management for £6.1m from Friends Ivory & Sime. On

completion of the deal, Aberdeen will also pay the value of the net assets,

estimated to be around £2.1m, as well as an extra £1m on the

second anniversary if funds under management exceed those at completion.

Isam manages £600m in assets, including the £405m British Empire

Securities investment trust and the European Asset Value Luxemburg-based

Sicav.

Threadneedle Investments has appointed Colin Robertson as head of global

strategy. He joins from Merrill Lynch Investment Managers where he was head

of asset allocation. He will be responsible for investment strategy as well

as the specific asset allocation of a range of the group&#39s funds.

Artemis is offering a 1 per cent discount on its UK special situations

fund until the end of August. The discount will reduce the initial charge

to 4.25 per cent. Annual management charge is 1.5 per cent and minimum

investment £1,000.

NDF Administration&#39s extra income and growth plan 7 is offering a fixed

income of 10.1 per cent a year for three years or 33 per cent capital

growth. The stockmarket-linked bond is open until August 17. Minimum

investment is £10,000 or £7,000 in an Isa.

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