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The Daley Update

Scottish Value Management is targeting an Isa at the IFA market. The SVM UK growth, European growth, continental Europe, new economy and UK opportunities funds will all be available within the wrapper. Initial charge is 5 per cent. Annual management charge is 1.25 per cent. Initial com- mission is 3 per cent, with 0.5 per cent trail.

UBS Warburg is offering a split-capital investment trust incor- porating hedge funds. The fund will be managed by CGNU&#39s institutional arm Morley Fund Management and will only be available to retail investors through IFAs. It will be called the Morley absolute growth investment company (Magic).

Aberdeen Asset Man-agement is setting up a European fund, to be managed on a similar basis to its global champions fund. The European champions fund, due to launch next month, will be the second in range and is likely to be followed by similar UK and US funds.

Edinburgh Fund Managers head of UK retail Graham Campbell has joined Scottish Widows Investment Partnership. Campbell, who managed the Dunedin income & growth investment trust and UK growth unit trust, will take over as head of UK retail at Swip.


Artemis branches out

Artemis Investment Management is adding the European growth fund to its range of unit trusts. Artemis has, until now, focused on the UK market. But its appointment of Philip Wolstencroft – formerly of Merrill Lynch – as head of European equity has been the catalyst for a new direction. The fund will invest in Europe […]

Poles Apart – the second stage

The industry is now confronting the inevitability of change to polarisation. We believe the stakeholder regime at least will be changed although there is no certainty that depolarisation will be extended to the whole of the market. Given this, from the point of view of IFA businesses we think there is a great deal to […]

Get the balance right

There are no final salary occupational schemes, so we will not have to investigate the guarantees such schemes offer. Your client is not in employment and therefore does not have access herself to any form of company pension scheme or company stakeholder pension. The issuing of a pension sharing order will create pension debits against […]

Outlook for Oeics

At the beginning of 1997, open-ended investment companies were finally made available to the UK market. Now preferably known, by the FSA at least, as investment companies with variable capital (ICVC), they were much heralded as the new era of investment vehicles. Four years on, what has become of the Oeic and what is the […]


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