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The Daley Update

Former Jupiter chief executive John Duffield has appointed Howard Covington as chief executive of his new fund management business, New Star Asset Management. Norwich Union Investment Funds&#39 Mark Skinner is to join New Star as retail managing director of sales and marketing in May. Skinner will be joined by NU head of sales Mark Hilliam and head of national accounts and partnerships Greg Jones.

M&G has appointed Giles Worthington as manager of its European smaller companies fund. He joins on March 5 from Invesco, where he managed the global enterprise fund and the segregated European smaller companies fund Premier Asset Management has added another fund manager to its multi-manager global select fund. BNP Paribas Asset Management&#39s Claude Guillaume will manage 20 per cent of the portfolio Foreign & Colonial director of investment trusts Jeremy Tigue is hooking up to the internet for a live chat with IFAs and investors on February 6. Tigue will be talking about the outlook for investment trusts in 2001 and will be online between 3pm and 4pm at www.fandc.co.uk.

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Axa – World Opportunities Fund

Monday, 29th January 2001.Aim: Growth by investing in high risk worldwide equity stocks.Minimum investment: Lump sum £1,000, monthly £50.Investment split: 100 per cent in high risk worldwide equity stocks.Isa link: Yes.Pep transfers: No.Charges: Initial 3.5 per cent, annual 1.5 per cent.Commission: Initial 3 per cent, renewal 0.5 per cent.Tel: 01179 890808. 

LeggMason Investors launches new VCT

LeggMason Investors is launching a new venture capital trust which will invest predominantly in Alternative Investment Market listed shares. The LeggMason Investors AIM Trust aims at raising £30m in the offer periods, which will straddle both the 2000/01 and 2001/02 tax years. T The VCT will be available from February 26. The minimum investment per […]

Exam review by end of year

The FSA has calmed IFA fears that its review of approved examinations has been put on a back burner by stating that no deadline was set for the consultation. When plans for the review were originally unveiled by FSA chairman Howard Davies in November last year, Davies said the review of financial sector exams would […]

Chase Fleming gets dynamic about Europe

Jordan says: “This product has higher than average risk, the charges are also higher than average and also this fund has no track record.”Flowers says: “The main disadvantage to this fund is cost. It is an expensive investment with a full bid/offer spread and an exit charge, plus a switch charge. If you invested for […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]

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