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The Daley Update

Credit Suisse Asset Management is cutting the initial charge on its income

fund by 1 per cent to 4.25 per cent until August 31. The fund, managed by

star manager Bill Mott, has been one of the best performers in the past

year, with a return of around 11 per cent for the 12 months to mid-July.

Minimum investment is £1,000. Annual management charge is 1.2 percent.

Scottish Widows Investment Partnership has appointed Bill Blair as a

senior member of its UK and European research team. Blair joins from Nomura

International, where he was a member of the UK pharmaceuticals team.

Newton has appointed Mark Hull as its new intermediary channel executive.

Hull joins from Gerrard and will be responsible for IFA communication and

literature. He will also assist with IFA marketing.

Institutional fund manager Morley has poached Sarasin EquiSar manager

Michael Jennings to head its new global thematic investment division.

Jennings, who has been at Sarasin for 13 years, will take up his new

position in two months. Sarasin has also appointed Ian Hogg as deputy chief

investment officer. Hogg joined the group from Deutsche Bank last year.


&#39Bad advice from family and friends&#39

People in their late teens and early 20s run the risk of making badinvestment decisions because they rely on family and friends for advice.Research conducted by Autif shows that 15-24-year-olds are most likely towant to boost their financial knowledge but take decisions based onanecdotal evidence rather than professional advice. Autif says anyinitiatives aimed at raising […]

Substance of the argument

Last week, I restated some tax planning fundamentals for couples but Ialso sounded a warning that there are some traps to be aware of, especiallywhere the objective is the transfer of earned income where one or both ofthe couple have control over the means of producing the income. Before rushing to make such transfers, it […]

HSBC Bank International takes four roads to world growth

Jersey-based HSBC Bank International is thinking globally with the introduction of the world growth fund.Designed as a Ucits, the fund will invest in four major indices, the FTSE 100, the S&P 500, the Nikkei 225 and the Dow Jones Eurostoxx 50. It is aimed at UK and non-UK investors who are looking for growth.Investors will […]

Clerical joins the race to buy IFAs

Clerical Medical has become the latest life office to join the scramble tosnap up IFA distribution. The life office, which has been one of the staunchest defenders ofpolarisation, is believed to have approached at least one national IFA andother smaller IFAs with a multi-tie proposition, with Clericalrepresentatives telling them that multi-ties are an inevitability. Devon-based […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]


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