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The Daley Update

Yorkshire Fund Managers&#39 British smaller technology companies 2 is

extending its offer period until May 31. The fund has raised £6.5m of

its £30m target.

Fidelity&#39s Funds-Network has added BWD Rensburg, Govett Investments and

Rothschild Asset Manage-ment funds to its platform, taking the total number

of funds to 476 from 35 providers.

Exeter Investment Group&#39 profits rose by 42 per cent to £2.45m from

£1.72m in the year to March 31. Funds under management rose to

£1.05bn. Net new business was up to £62m from £17m.

Merrill Lynch Investment Managers has set up a closed-end fund offering an

element of downside protection. The Merrill Lynch defined returns fund

offers inc-ome or capital growth. Income shares will provide 8.5 per cent

gross a year while the zero-dividend shares will return up to 27.75 per

cent at the end of the three-year period.

Threadneedle is running another series of regional investment seminars

this autumn. They start in Glasgow on October 2 and end in London on

October 17.

DOCE:

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West Bromwich Building Society – Three Year Fixed Rate Bond

Monday, 14 May 2001.Type: High interest account.Minimum-maximum investment: £1,000-£1m.Interest rates: 5 per cent gross a year until July 31, 2002, 5.5 per cent until July 31, 2003, 6 per cent until July 31, 2004.Term: Three years.Offer period: Until further notice.Withdrawal penalties: No withdrawals permitted during term.Tel: 0800 1695128.

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Investment risks

The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.

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