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
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's 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
NDF Administration's 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.