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The Daley Update

JP Morgan Fleming Asset Management is introducing a capital-protected global growth fund which boasts 100 per cent capital protection over five years. Investors get 75 per cent of capital growth from a basket of six JPMF equity and fixed-interest funds. Minimum lump sum is £3,000 and the fund is valid for Isa and non-Isa investments. Commission is 3 per cent.

Nationwide has launched a high-income fund managed by Merrill Lynch Investment Managers. It invests mainly in UK corporate bonds and fixed-interest securities and is Catmarked with a 1 per cent annual fee and no front-end charge. The fund aims to achieve a yield of 6.5 per cent a year and is Isa-able. Minimum investment is £500.

Credit Suisse First Boston is to offer a Tessa-only Isa offering 100 per cent capital protection and up to 55 per cent growth over five years. Alternatively, investors can withdraw 10 per cent of the capital each year, redeeming the remaining 50 per cent plus up to 50 per cent growth at the end of the term. Returns are linked to the performance of the world&#39s top 50 biggest companies. Minimum investment is £5,000.

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AMP is creating a 500-strong direct salesforce to give non-FSA regulated face to face advice.AMP’s existing 2,000-strong salesforce will be reorganised to create the new team. It will also operate under the Pearl brand and will offer general insurance, banking products and mortgages through AMP Bank, Abbey National, Alliance & Leicester, Nationwide and Woolwich.

Jupiter expands IFA support service

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