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Trouble-shooter to push splits’ fund

A trouble-shooter has been hired by split-cap investment trust firms to convince consumers to take the FSA compensation settlement.

London PR consultant Nick Miles, who runs M:Communications, has been taken on by 18 fund managers and brokers which signed up to the FSA deal that created a 195m fund for investors.

Miles says he will fight the corner for the 18 firms to seek positive publicity for the agreement and convince consumers to sign the deal.

City lawyers say investors and IFAs are uncertain about what to do about the 195m fund because they believe it lacks clarity.

Miles says: “All that we know is that there are virtually no cases that have been brought. The FSA has taken so much time with this agreement. The only thing that is not a cert-ainty is how much each individual will get.”

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