Edinburgh Fund Managers has appointed Mark Harris as the new head of investment management for its multi-manager business, Edinburgh Portfolio. Harris joins from HSBC Asset Management, where he has worked in the funds of funds business since 1995 and was responsible for around £600m of assets. He will take responsibility for Edinburgh Portfolio's nine funds of funds.
NDF has launched a new income & growth plan offering a yield of 10.25 per cent a year over three years or capital growth of 34 per cent over the three-year term. The offer period runs until January 11 and the plan qualifies for Isa investments. Returns are linked to the Eurostoxx 50 and capital is guaranteed unless the index falls by more than 20 per cent over the life of the investment without recovering. The minimum investment is £10,000 or £7,000 for an Isa, with no explicit charges. Commission is 3 per cent.
VCT investors currently favour generalist funds over specialist or Aim trusts, according to new research from Downing Corporate Finance. Seventeen VCTs have launched or are set to be launched this winter – of which nine are generalist, four Aim, and four specialist. In the survey, 41 per cent favoured generalist VCTs, 35 per cent Aim, with 24 per cent voting for specialist.