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Van der Klugt to retire at Schroder

Humphrey van der Klugt, manager of the flagship Schroder UK equity and Schroder income funds,is to retire in January after nearly 22 years with the group.

The £621m equity fund will be taken over by senior UK equity manager Christopher Metcalfe while the £475m income fund will be run by Nick Purves, Schroders&#39 senior equity income manager. Both will take over the funds on October 1.

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Virtual Net offering free services to new members

Internet-based IFA network Virtual Net is offering new members network services free for four months to mark its first birthday. Members joining from September 1 will pay no network charges until January 2004 although they will have to pay the £99 joining fee. The network is aiming to attract 150 new members. They will get […]

Franklin Templeton Investments – Templeton Europe Fund

Type: Oeic Aim: Growth by investing in European equities excluding the UK, debt securities and cash Minimum investment: Lump sum £1,000, monthly £30 Investment split: 100% in European equities excluding the UK, debt securities and cash Isa link: Yes Pep transfers: Yes Charges: Initial 5%, annual 1.5% Commission: Initial 5%, renewal 0.5% Tel: 0800 305306

Low-cost problems

I could not agree more with Len Warwick&#39s article in Money Marketing on maturing endowment policies. There are, however, two points that about which we as an industry need to educate our journalistic friends. No endowment policy will produce a shortfall at matur-ity. That is a fact. I am old enough to remember non-profit endowments […]

Move towards savings for long term

Lender Abbey National&#39s latest research shows a move away from short term goals for saving like holidays towards long term reasons like old age, property and children.

Inheritance tax – How to declare and who pays

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays the tax. To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB is […]

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