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The Daley Update

Matrix is offering a 1 per cent discount on its Quantock UK growth fund to celebrate its fifth birthday. The discount, which runs until the end of the tax year, will see the initial charge reduced from 5.2 per cent to 4.2 per cent. Minimum investment is £5,000 . Annual fee is 1.5 per cent. Initial commission is 3 per cent and 0.375 per cent renewal.

Artemis Unit Trust Managers is to make its first move into the venture capital trust market with the launch of an Aim VCT in February. The fund will look to raise £20m. It will be managed by UK growth manager Mark Tyndall and New Enterprises manager Lindsay Whitelaw.

Aberdeen Asset Management is offering a 1 per cent discount on all lump-sum investments into its unit trust Isa range until June 1. The discount will reduce the initial charge from 4.25 per cent to 3.25 per cent. Investors taking a discount this tax year will still be eligible for a further discount on next year&#39s Isa.

Portfolio Fund Management is to launch a new fund of funds next month. The Portfolio Managed Recovery fund of funds will look to invest in the UK&#39s top value funds, such as Neil Woodford&#39s Perpetual high-income fund, and Bill Mott&#39s Credit Suisse income funds. Initial charge is 5 per cent and annual 1.5 per cent. Initial commission is 3 per cent and 0.5 per cent trail. PFM will also now accept mini Isas as well as maxis.

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