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The Daley Update

u M&G&#39s first-quarter results show Isa sales are down by around 25 per cent on last year. M&G said it was unable to reveal precise Isa figures but total sales for the quarter, including non-Isa sales, were £250m compared with £303m last year. Deputy managing director of UK retail Phil Wagstaff says M&G has still increased its share of the IFA market to 6 per cent from 4 per cent last year.

u Gartmore is cutting the initial charge on its monthly income trust by half to 1.5 per cent until April 30. The discount applies to all lump-sum investments into its ISAit scheme. Commission is 3 per cent initial and 0.5 per cent renewal.

u SG Asset Management set up its corporate bond fund this week. A backlog of applications at the FSA delayed final approval of the bond. Initial charge is 3.5 per cent.

u Old Mutual Asset Managers has appointed Luke Kerr as assistant fund manager with its UK equities team. Kerr joins from Arthur Andersen.

u Framlington is offering a 1 per cent discount on its UK growth fund until the expected date of the general election on June 7, cutting the charge to 4 per cent.


Mortgage 2000 goes low with new mortgage

Mortgage 2000 has introduced the 2.99 per cent fixed rate self-certification mortgage.Aimed at self-employed people who are unable to prove their income with payslips, the mortgage has a fixed rate of 2.99 per cent for the first year of the mortgage on loans of up to 75 per cent of valuation. The mortgage is available […]

Npower lines up loan and life push

Utility company npower is set to launch into the mortgage and life insurance market next year and may even consider becoming an IFA as part of its new financial services package.The firm said earlier this month that it would be diversifying its core business of supplying gas and electricity to homes and businesses into the […]

AMP says baby bond plans will help low earners

AMP says the Government’s plan for a baby bond will help families on middle to low incomes. The life office says it was involved in developing the bond alongside the Treasury and funded research for the Institute for Public Policy Research. It has been working with the IPPR and the Treasury to promote policies that […]

Selection box from ABN AMRO

ABN AMRO UK Select Opportunities Fund Type: Unit trust. Aim: Growth by investing in small, mid and large-cap UK companies. Minimum investment: Lump sum £1,000, monthly £50. Isa link: Yes. Pep transfers: Yes. Charges: Initial 5 per cent, annual 1.5 per cent. .Commission: Initial 3 per cent, renewal 0.5 per cent. Tel: 0800 0922090. Colin […]


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