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The Daley Update

Old Mutual Fund Man agers has recruited Stuart Taylor to its Euro pean equities team headed by Adrian Farthing. Taylor worked with Farthing at Hill Samuel and will help manage the Euro pean and European growth funds. Both funds are offering a 2 per cent discount on their initial charges until December 29.

Henderson Global Investors is offering a 0.5 per cent discount on all lump-sum investments into its preference and bond, European high yield bond and Hender son income Isa funds until the end of the year, taking the funds&#39 initial charge to 3.5 per cent. To mark the completion of the transfer of its unit trusts to Oeics, Hender son is also extending the discount on lump sum investment into its retail A share classes until the end of Nov ember. The discount is 1 per cent on all equity funds and 0.5 per cent on bond funds.u Framlington is offering a 1 per cent discount on all lump-sum investments into its UK growth fund until January 31, reducing the front-end charge to 4 per cent.

Downing Corporate Finance is looking to raise £20m with Classic VCT 3. The trust will be similar to the first trust, investing half in technology companies and half in more mature companies, including Aimand Ofex-listed firms. Initial commission is 2.5 per cent and 0.25 per cent renewal.

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