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The Daley Update

Govett Investments has launched a Guernsey-domiciled split-capital investment trust. The Govett Asian income & growth fund has been created as a rollover vehicle for the Govett emerging markets trust. Annual charge is 1 per cent and up to 3 per cent commission can be taken through Govett&#39s trustit scheme.

Edinburgh Fund Managers is running a series of IFA roadshows following changes to the Pep rules. The roadshows begin in Edinburgh on May 14 and finish in Guildford on May 23. Other venues include Newcastle, Wetherby, Leicester, Norwich, Maidstone and Belfast.

Northern Venture Managers has extended the deadline for its Northern VCT 2 until June 28. The fund has raised £18m but is still short of its £25.4m maximum subscription level.

Rothschild Asset Management is cutting its retail offering from 10 to seven funds. Five Arrows Latin American, Europe and Asia Pacific will be ringfenced for the institutional market although existing retail investors can opt to remain in the funds. Five Arrows Euroland will be renamed Five Arrows European opportunities. The changes are subject to shareholder and FSA approval.


Merrill Lynch invests in finance

Merrill Lynch has introduced the world financials fund.World financials is a Luxemburg-domiciled SICAV that has been designed with the experienced investor in mind.The fund will invest in 70 to 100 companies in a wide range of areas in the financial sector. These include banks, insurance, savings and loans, investment banking brokers, insurance brokers, and companies […]


Keith Popplewell

Not many IFAs would admit to a drink-driving ban as the making of their career, but Money Marketing Industry Personality of the Year for the second year running Keith Popplewell is not too proud to admit that his career path has had its ups and downs. A crash on the A1 some 12 years ago […]

Caution is urged on DB transfers into stakeholder

The ABI is issuing its members with guidance notes to curb fears of widespread misbuying as members of occupational pension schemes transfer their defined benefits to stakeholder. Life offices and IFAs fear that the requirement to allow transfers from all other pension arrangements to stakeholder creates the potential for misbuying by defined-benefit scheme members who […]

Independent view

A recent Money Marketing article told us “Older IFAs seek escape route from the industry”. It went on to say that most IFAs over 55 would retire now if they could. It said: “A survey of 100 IFAs found that 86 per cent of respondents would leave the industry tomorrow given the choice.” The regulatory […]


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