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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.


Scottish Mutual launches investment plan for pensions

Scottish Mutual is launching a new flexible trustee investment plan for its pension products. The Classic version of the plan is for investors wanting the ScotMut pension fund range and access to external funds, which include funds from Fidelity, Merrill Lynch, Newton and Perpetual.The Tailored version is for fee-paying investors and corporate clients wanting access […]

Burrows: will head annuity service

Annuity expert Billy Burrows is teaming up with actuary and pensionconsultant Aspen to set up a specialist annuity IFA. William BurrowsAnnuities will become part of Aspen&#39s fee-based subsidiary, AspenIndividual Clients. It will provide a mainly fee-based advisory service on all aspects ofannuities and income drawdown. Aspen says its decision to expand into theretirement income market […]

Test your knowledge online

Test your knowledge online with Money Marketing&#39s CPD questions.Specialist financial publisher. Taxbriefs has drawn up multiple-choice questions based on articles in thisweek&#39s issue. For further details and this week&#39s questions – see page 43.

Drawdown deal on Equitable funds

Specialist IFA The Drawdown Bureau has come up with a way of removingfunds in drawdown from Equitable Life without incurring exit penalties.Draw-down policyholders who want to leave the company can take maximumincome from their existing plan which will not be subject to an MVA. Thiscan be up to 8 per cent of the fund as […]


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