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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.


Lloyds may try hostile takeover of Abbey Nat

Lloyds TSB has taken a further step towards a hostile takeover bid for Abbey National by submitting a merger notice to the Office of Fair Trading. Details of the proposed acquisition were given to the OFT last Friday. The OFT has until February 2 to consider the regulatory implications. A merged Abbey and Lloyds would […]

Fidelity defends small IFAs over trail rebates

Fidelity is taking a stand against brokers which rebate trail commission and annual management fees to the client, in what it describes as a bid to protect the smaller IFAs. The company has targeted two firms, Chartwell and Com share, which it has highlighted as the biggest perpetrators of renewal commission rebating. In a recent […]

Neville James harnesses teps and zeros

OFFSHORE INVESTMENTS NEVILLE JAMES SECURE CAPITAL GROWTH FUND Type: Oeic. Aim: Growth by investing in TEPs and zero dividend preference shares. Minimum investment: £5,000. Place of registration: Isle of Man. Investment split: Initially 50 per cent in TEPs, 50 per cent in zero dividend preference shares. Isa link: No. Charges: Annual – A shares 1.225 […]

L&G looks for final carry-forward cash

Legal & General is offering a single-charge pre-stakeholder individual personal pension. It is targeted at savers who are looking to maximise any unused tax relief before carry-forward is abolished on April 5 this year. L&G says it expects an increase in the number of people looking to top up their pensions by paying a lump […]


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