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The Daley Update

New Star Asset Management is to launch its third retail Oeic on October 22. The UK Aggressive fund will be managed by Tim Steer and will invest in a portfolio of 35-40 UK equities. The fund has an initial charge of 5.25 per cent, reduced to 4.25 per cent until November 9. Annual charge is 1.5 per cent. Minimum investment is £1,000 or £100 a month.

The asset management arm of HBOS has recruited David Norman as marketing director. He will report to managing director Gary Mairs. Both joined the firm from Friends Ivory & Sime.

Schroders is offering a 2 per cent discount on its UK mid-250 fund until the end of October, reducing the initial charge to 3.25 per cent from 5.25 per cent.

Exeter is introducing its first pure equities fund this week. The Hidden Value portfolio will aim to achieve maximum returns by investing in UK equities. It will be managed by Geoff Miller and Andrew Hobson. The minimum £50,000 investment is reduced to £10,000 until October 31. During the launch period, the 1 per cent front-end charge is also waived. Annual charge is 1 per cent.


Stakeholder is an opt-out for firms

Stakeholder is letting employers off the hook by allowing them to opt out of contributing to an occupational schemes, say two leading champions of pensioner rights.National Pensioners Convention president Rodney Bickerstaffe and former Labour Cabinet minister Barbara Castle have both criticised the Government&#39s flagship pension for not meeting the needs of its target market.Speaking at […]

Future Mortgages – Future 95

Friday, 12 October 2001.Type: Tracker mortgage.Tracker term: Term of loan.Tracker rate: LIBOR plus 3.5 per cent.Minimum loan: £10,000.Maximum loan: Up to 95 per cent of valuation subject to a maximumof £200,000.Income multiples: 3.75 times principal income plus second or 3.25times joint.Arrangement fee: 1 per cent subject to a minimum of £495, maximumof £1,000.Redemption fee: Five […]

Close Business Centre Capital eyes up property

Close Business Centre Capital, a division of Close Brothers Investment, has kicked off with its first product, the Fareham fund.Fareham is a unit trust that will invest in a commercial property and is aimed at investors who are looking for income over the medium to long term. This can include people approaching retirement and owners […]

Norwich & Peterborough compares favourably on MIG

Norwich & Peterborough has introduced a five-year fixed-rate mortgage that is available for loans of up to 95 per cent of valuation. This mortgage is fixed at 5.94 per cent for five years and has an arrangement fee of £295. If borrowers pay off the mortgage during the first five years, they must pay six […]

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]


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