The AITC is to publish details of cross-holdings between split-capital investment trusts on its website. The service, which starts next month, is part of a drive to increase transparency across the split-cap sector following negative publicity in the past few months. The figures will be updated monthly.
Merrill Lynch Investment Managers has appointed John Clougherty as head of UK retail sales. He joined MLIM in 1999, having previously worked in senior sales roles at both Fidelity and Fleming.
Beaumont Cornish is offering a generalist VCT. The Pathway One VCT is looking to raise £5m between now and its closing date of December 14. Mini-mum investment is £2,500. Commission is 3 per cent.
Dresdner RCM has appointed Nick Smith as head of retail following the departure of John Tierney last week. Smith will be responsible for broker liaison, customer services and retail marketing.
Matrix's Unicorn Aim VCT has passed its minimum subscription of £3m, with money coming into the fund at almost the same rate as Matrix's Trivest VCT