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The Daley Update

Schroders is to raise the annual charge on six of its unit trusts –

Schroder Pacific, Tokyo, UK equity, income, gilt & fixed interest and

European – by 0.25 per cent to 1.5 per cent from November 21

Lincoln Unit Trust Managers is offering discounts of up to 4.75 per cent

on its unit trusts and Isas until the end of this month. The Initial charge

on the Lincoln corporate bond trust, managed by Goldman Sachs Asset

Management, is cut to just 0.25 per cent from 5 per cent. Initial char-ges

on the firm&#39s other funds are cut by 3 per cent to 2.25 per cent.

Gartmore head of UK equities Andrew Carter has quit to become chief

investment officer at Royal London Asset Management. Carter, who has been

at Gartmore for 14 years, will be rep-laced by head of European equities

Stephen Jones until a full-time replacement is found.

Premier Asset Management is offering a 2 per cent discount on its UK

smaller companies fund until the end of September. The discount will reduce

the initial charge to 3 per cent from 5 per cent. Minimum investment is

£1,000 or £50 a month.

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