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The Daley Update

Aberdeen Asset Management is to launch a new venture capital trust on September 21, to be run by Bill Nixon. The growth opportunities VCT will aim to reach £30m and will focus on UK companies in the later stages of the venture capital process.

Global Asset Management is offering a 2 per cent discount on its new Star American focus fund until September 14. The discount will cut the initial charge from 5 per cent to 3 per cent. Annual fee is 1.5 per cent. Minimum investment is £3,500. There is no commission to IFAs. The fund, managed by James Abate, is a Dublin-based Ucits. Abate joined GAM in January from Credit Suisse where he managed the Transatlantic fund.

Dresdner RCM is offering free transfers into its Triplets Isa and Pep plan, which brings together three of its leading investment trusts. It will waive the £20 transfer fee and 0.5 per cent dealing charge on all transfers into Triplets between September 1 and December 31. Initial commission of up to 3 per cent. Triplets is a combination of Dresdner&#39s Brunner, Charter and Merchants investment trusts.

Williams de Broe is to hold a series of IFA roadshows to promote its Solutions portfolio range, and discuss the benefits of investment trusts. The next event will be at Royal Clarence Yard in Exeter on October 19, with three other presentations to be held in Liverpool, Edinburgh and Dublin.


Profits down at Rathbone Brothers

Discretionary investment management and private client services group Rathbone Brothers saw its pre-tax profits fall 21 per cent to £11.2m in the six months to June 2001, from £14.2m for the same period last year.But the group saw funds under management increase by 20 per cent to £6bn from £5bn a year ago.Rathbone Brothers chairman […]

On a whinge and a prayer

They say the collective term for IFAs is a whinge. Well, good. Right now, it is a talent the industry needs. A quick review of the MM letters page shows IFAs are not averse to complaining. But when it comes to regulation, constructive opinion and direction are often lacking. Early this year, for the first […]

Intermediaries ignoring well-performing trusts, research shows

Sales of well-performing trusts are being hampered by intermediaries lacking experience of specific providers according to research from Henry Samuels Marketing Service. This finding emerges from the “IFA Networks, Unit Trusts and Isas” which examines the attitudes of network members to a range of unit trust and Isa providers. It says Fidelity consistently scored high […]

Independent view

I can think of about a dozen reasons why I should not be outspoken and forget what else is happening around me and just adjust my business appropriately when inappropriate regulation and stupid regimes are introduced.I wouldn&#39t upset as many people. I wouldn&#39t incur the wrath of the investment gro-ups, the life companies and even […]

Image courtesy of Stuart Miles at

Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.


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