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The Daley Update

Framlington is offering a 1 per cent discount on its UK growth trust until the end of October after the fund was awarded a AA rating by Standard & Poor&#39s Fund Services. The £68m fund, managed by Chris Murphy, is top quartile in the UK all companies sector over one, three and five years.

Fourteen funds lost their Standard & Poor&#39s ratings in its latest review of UK growth and smaller company funds. Gartmore UK smaller companies, JP Morgan Fleming UK growth & income and Jupiter special situations were three of the highest-profile downgrades, all losing their A ratings. However, 15 funds were awarded ratings for the first time, including ABN Amro&#39s UK Select Opportunities fund, which received a AAA rating.

JP Morgan Fleming Asset Management is offering a 2 per cent discount on its UK dynamic fund until the end of November. The discount, which applies only on investments of more than £5,000, will reduce the initial charge to 3.5 per cent from 5.5 per cent. Annual charge is 1.5 per cent.

M&G has seen a 19 per cent fall in sales over the first three quarters of 2001, to £704m from £870m in 2000. M&G says the fall was largely due to the rollover of a £105m exceptional loan note. Excluding this, the fall would have been 8 per cent. Sales of fixed-income products increased 15 per cent to £400m from £348m, accounting for 57 per cent of total sales.


Omam set to offer UK mid-250 fund

Old Mutual Asset Managers is planning to offer a new UK mid-250 fund in February.The fund will combine the skills of small-cap star Ashton Bradbury and newly recruited UK growth manager Richard Moore, who joined Omam from Singer & Friedlander at the end of last month.It will invest in a tight portfolio of around 50 […]

Intermediaries confident in buy to let market

But to let investment is set to increase, according to data from Bradford & Bingley specialist lender Mortgage Express.Mortgage Express&#39s property hotspots report reveals that 95 per cent of intermediaries who responded to the survey said the market would rise or remain stable over the next six months.The survey showed Sheffield, Brighton, Birmingham and South […]

Schroders picks ex-Grenfell chief Dobson as CEO and buys his firm

Schroders has appointed former head of Morgan Grenfell, Michael Dobson as chief executive and is to buy Dobson&#39s hedge fund firm Beaumont Capital Management as part of the deal.Dobson will take over from David Salisbury who quit Schroders after a 68 per cent fall in profits during the first half of this year.Schroders is to […]

RBSI offers dual currency bond

Royal Bank of Scotland International has unveiled a guaranteed growth bond that is available in either sterling or dollars.The sterling-denominated version of the stepped growth bond is linked to the performance of the FTSE 100 index during a three-year term and the dollar-denominated version tracks the performance of the S&P 500 index.UK expatriates and people […]


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