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The Daley Update

Artemis is to add a European growth fund to its unit trust range, taking its total number of funds to five. The fund is due to start on March 5. Front-end charge is 5.25 per cent. Annual management charge is 1.5 per cent. Initial commission is 3 per cent but there is no trail.

New Star Asset Management has appointed Stewart Cazier as joint managing director of investment fund operations. Cazier is the latest member of staff to be poached from Norwich Union Investment Funds following New Star&#39s recruitment of three of NUIF&#39s senior sales and marketing employees last month.

Jupiter is offering a unit trust investing in zero-dividend preference shares. The Jupiter preference fund is launched on March 21.u M&G has set up a European technology fund following the recruitment of UBS European fund manager Phil Pearson. The fund, is set to open in the spring.

Scottish Widows has set up a global Isa investing in its global trust fund. The trust, set up in 1986, was made available for life and pension products last summer but has not been a valid Isa investment until now.

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