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The Daley Update

Artemis is looking to raise an extra £20m for its Aim VCT with a new subscription of C-class shares. Artemis set up its VCT in January, raising £33m in just under three months. The new subscription, which will open next month, would take the fund&#39s total to £53m. Minimum investment is £3,000.

Credit Suisse Asset Management has appointed Chanaz Louarith as the fifth member of its multi-manager team. Louarith joins from Kreis Consulting, where he managed a bespoke investment fund research service.

Downing Corporate Finance set up its Electra Kingsway VCT this week and is aiming to raise £25m. The generalist fund will invest in both Aim-listed and unquoted companies. Minimum investment is £5,000.

LeggMason Investors has appointed Kieran Gallagher as chief investment officer and head of Europe. He is the latest in a long line of departures from Newton Fund Management, where he was head of European equities. He will take up his new position in the new year.

Matrix Securities and Unicorn are offering the Unicorn Aim VCT, with the aim of raising £35m.


Northern Rock goes halves

Northern Rock has introduced fifty-fifty, a bond that is split equally between a high interest account and a guaranteed equity bond. The high interest account pays interest at 7 per cent gross a year until December 1, 2003. Investors can make withdrawals during this period, but they lose 90 days&#39 interest as a penalty. The […]

Swiss Re sees role for CAB

Citizens&#39 Advice Bureaux should give independent financial advice from a league of retired financial services personnel, says Swiss Re&#39s response to the Sandler review.It says market consolidation in financial services has resulted in employees with many years of service and experience retiring and the firm feels that many of these people could play a useful […]

Sun Life Financial of Canada is still alive and kicking

I am writing regarding the recent article in Money Marketing concerning the acquisition of Sun Bank, our former sister company, by Portman Building Society.Towards the bottom of the first column, there is a state-ment which says: “Sun Life Financial of Canada is known to be keen to leave the UK market.”It is, of course, true […]

In good Company

A recent CBI survey showed that 192 million working days are lost each year because of employee sickness – 7.8 days per employee or £434.A total of 861,000 people are off work sick each year, amounting to the combined populations of Essex and Warwickshire. All this costs employers £10.7bn a year.Sickness absence may be one […]

Mark Page: “A good time to be a European fund manager”

With European markets picking up in early 2015, Mark Page, Artemis European Opportunities Fund manager, discusses the ‘macro’ drivers and whether the improvements are sustainable. Largely driven by economic stimulus by the European Central Bank, European stockmarkets have performed strongly so far in 2015. Mark discusses the relative merits and sustainability of ECB policy with […]


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