Investment Adviser articles from April 2003

Investment Adviser archives from April 2003

Stamp duty rise will hit property fund liquidity -" RICS.(Brief Article)
April 7, 2003... The Royal Institute of Chartered Surveyors has warned that an increase in stamp duty could adversely affect on property investment. The RICS said Gordon Brown was expected to increase stamp duty taxes, a move which would prove unfavourable...

Isis fund revamp offers Managed Distribution; Fund rebrand will also mark a directional change in its asset allocation strategy.
April 7, 2003... By Simoney Girard Isis Asset Management has stepped up its fund rationalisation by rebranding more Friends Provident funds. The AGBP9m FP Equity & Bond fund, which has outperformed its UK Equity and Bond Income sector over one year -"...

Aurum adds India link to Asia fund.(Brief Article)
April 7, 2003... By SIMONEY GIRARD Fund of hedge fund specialist Aurum has added a new link to its Asia Pacific fund. The fund of hedge funds, which was launched in the last quarter of 2002, has expanded its remit to include a new India equity hedge...

Appointments.
April 7, 2003... Barclays Global Investors has appointed Gerrit Van Gorp as head of fixed income business development in its European IndividuaL Investor Business (EIIB) group. In this newly-created role, Mr Van Gorp will report to John Demaine, head of EIIB....

Diary.
April 7, 2003... Bordeaux boycott falters at first step The Gulf War is understandably a major discussion point at the moment. At a recent drinks party hosted by PricewaterhouseCoopers, one group of guests and a host got onto the topic of boycotting French...

ABN Amro lauds M&G zero trust; M&G zero trust tipped as an 'excellent long-term' opportunity.(Brief Article)
April 7, 2003... By gabriela pomeroy M&G HIGH Income trust's zeros shares have been tipped as an "excellent long-term" opportunity by analysts at ABN Amro. These are the longest dated zeros within the split cap sector, and are being rated a "buy" by...

Britannic Income to shift UK bias.(Brief Article)
April 7, 2003... THE board of the suspended Britannic Income trust is seeking to shift towards a UK investment strategy. The trust, which was suspended in July 2002, wrote to its shareholders on 31 March, proposing to change the investment policy for the...

Brandt takes over F&C's Latin fund; Rupert Brandt to head fund after Emily McLaughlin resigns.(Brief Article)
April 7, 2003... By Ashutosh KUMAR EMILY McLaughlin, manager of the AGBP86.7m F&C Latin American trust, has resigned. The fund had underperformed its benchark during the period Ms McLaughlin managed it. She took over the close-ended fund in June 1994...

Caledonia switches to investment trust.(Brief Article)
April 7, 2003... CALEDONIA Investments, an investment company, has been converted into an investment trust. The portfolio was converted so that it would not be subject to corporation tax on gains from investment disposals. The new structure came into...

Cash is king as sales slide at supermarkets; Fund supermarkets report up to a 35 per cent decline in Isa business.(Brief Article)
April 7, 2003... by Marie-Louise Gumuchian Fund Supermarkets have said that Isa business is down substantially. Skandia's Isa business fell by 35 per cent this year. The fund provider reported that cash funds were among the best-sellers. Peter...

Bonds dominate as Isa sales drop by nearly 40%.(Brief Article)
April 7, 2003... Fears of a collapsed Isa season were confirmed as the IMA reported a 39 per cent drop in net Isa sales. Sales in February 2003 were down to AGBP192.6m from AGBP319.4m in the corresponding period of 2002. The net Isa sales in January were...

Provider's silence says it all in dismal season.(Brief Article)
April 7, 2003... A wall of silence surrounds fund providers' Isa sales figures. A reluctance to furnish details of 2002-03 Isa sales was apparent and, barring a selected few, most companies talked in terms of relatives rather than absolute numbers. ...

Aegon bets on rich consumers; Aegon American manager selects out of favour luxury stocks.(Brief Article)
April 7, 2003... By Gabriela Pomeroy ELAINE Crichton, manager of the Aegon American fund, has gone against the grain by investing in luxury consumer goods. She bought a holding in US luxury handbag company Coach in February, despite fears that "the...

The worst is over for US markets, claims Axa.(Brief Article)
April 7, 2003... STRATEGISTS at Axa Investment Managers believe the US stock market is now "back to fair value". Nigel Richardson, senior strategist at Axa Investment Managers, said some US stocks could actually be deemed cheap, but he was "not ruling out...

Govett remains loyal to corporate bonds.(Brief Article)
April 7, 2003... GOVETT continues to promote corporate bonds, despite fears they may have reached the top of the cycle. Carole Lawson, fund manager of the Govett Corporate Monthly Income fund, said: "During a war you would expect markets to be volatile....

Christows backs banks and media; Manager advises on an early bet against adverse sentiment.
April 7, 2003... By Simoney Girard Christows is tipping media companies and banks in the top 350 UK companies as good buys. The boutique stockbroker and fund manager called these sectors interesting, based on two-week analysis charting prices on the...

Advisers are braced for 'bad news' Budget.(Brief Article)
April 7, 2003... Investment advisers believe Gordon Brown will hit UK investors with heavier taxes on savings in his April Budget. According to research by JP Morgan Fleming, 60 per cent of advisers surveyed said the Budget would bring more bad news to...

Merrill loses three more managers.(Brief Article)
April 7, 2003... By Simoney Girard Merrill Lynch Investment Management has lost three more fund managers through consolidation. The asset house made managers Olivier Rudigoz and Tim Isaacs redundant and gave early retirement to Claus Anthon from its...

FP Income gains from Scottish energy giant; Friends Provident Stewardship Income fund pockets AGBP3m from Scottish Power.(Friends Provident PLC and Scottish Power)
April 7, 2003... By Simoney Girard TED Scott, the manager of Friends Provident's Stewardship Income fund, has profited from Scottish Power, his second biggest holding. Last Tuesday, Mr Scott sold his 4.2 per cent portfolio holding in the company,...

War bolsters oil and gold warrants.(Brief Article)
April 7, 2003... A PROLONGED war in Iraq could boost trades in oil and gold warrants. The oil price increased since the Iraq invasion began, with Brent Crude rising from $25.70 (AGBP16.40) per barrel on 20 March to more than $28 per barrel on 31 March. ...

Henderson manager snaps up quality depressed shares.(Brief Article)
April 7, 2003... By Hayley Frain HENDERSON UK Equity Income fund's newest holdings comprise Tesco and Legal & General. Patrick Harrington, manager of the AGBP75.9m Henderson UK Equity Income fund, has bought 1 per cent holdings in each of the...

US investment keeps portfolios above water.(Brief Article)
April 7, 2003... GLOBAL funds of hedge funds slipped over six months, although specialised US investment kept some portfolios buoyant. JD Farrods Global Investment Advisors, alternative investment markets (Aim) specialist, posted a 0.26 decline on its...

IFA punts bonds over equities.(Brief Article)
April 7, 2003... IFA Cavendish Young is recommending gilt, high income and bonds funds to its clients. The three funds are the AGBP71.7m Allianz Dresdner Gilt Yield, the AGBP160.5m Merrill Lynch High Income Bond and the AGBP274m Norwich Union Corporate...

Industry awaits McCarthy's views; New FSA chairman faces challenge to restore confidence.(Brief Article)
April 7, 2003... By Sam Dunn FUND managers can expect new FSA chairman Callum McCarthy to cast a critical eye across the retail financial services industry. Mr McCarthy, chairman of energy regulator Ofgem, was appointed as replacement for Sir Howard...

Dixons' growth to be unveiled in 2005.(Brief Article)
April 7, 2003... POORLY performing Dixons will present growth opportunities by 2005, according to Axa Investment Managers. Martin Cholwill, manager of the AGBP558m UK Equity Income fund, has increased his Dixons holding from 1 per cent to 1.4 per cent. ...

Uncertainty should be exploited -" M&G.(Brief Article)
April 7, 2003... FUND managers should ignore the stock market's reaction to the Iraqi war, according to Simon Bailey of M&G Investments. Mr Bailey, manager of the AGBP90m UK Smaller Companies fund, said one should beware of paying too much attention to...

Asset allocation takes priority for advisers; Bloomsbury certified financial planner praises move towards asset allocation.
April 7, 2003... A LEADING financial planner has hailed a move towards asset allocation as "a step in the right direction" for clients. A survey of investment advisers, carried out by JPMorgan Fleming Asset Management revealed 38 per cent spent more time on...

Gartmore relists fund of hedge funds.(Brief Article)
April 7, 2003... GARTMORE will re-list its Bermuda-based fund of hedge funds in Dublin in June this year. Paul Feeney, head of UK retail at Gartmore said the plan was to achieve a track record before launching an onshore version of the Bermuda-based...

BVCA embraces plan for clarity on EU equities.(Brief Article)
April 7, 2003... By Simoney Girard THE British Venture Capital Association has welcomed a move to greater clarification in the European private equity industry. The European Private Equity and Venture Capital Association (EVCA) last week announced it...

Invesco takes over Real Estate trust.(Brief Article)
April 7, 2003... JERSEY-BASED Invesco International has replaced Aberdeen Asset Managers as the manager of Real Estate Opportunities. The appointment, subject to Jersey regulatory approval, was made following the AGBP165m loss the trust had suffered under...

Mid-caps best for growth funds.(Brief Article)
April 7, 2003... MID-CAP stocks provide the best levels of income and capital growth, according to Investec's Alistair Mundy. Mr Mundy, manager of the AGBP46.1m Investec Cautious Managed fund, said the majority of the fund's holdings were in the FTSE100...

Managers cut back on HSBC amid Sars fears; Rathbone and Henderson both cut their holdings as number of cases increases.
April 7, 2003... By Hayley Frain Rathbone Asset Management has cut its HSBC holding as concerns grow about severe acute respiratory syndrome in Asia . Julian Chillingworth, manager of the AGBP17.85m Rathbone Income and Growth fund, has cut his HSBC...

Don't forget UK equities, says JPMF's Inglis-Jones.(Brief Article)
April 7, 2003... INVESTORS should reconsider UK equities despite the temptations of bonds, according to one fund manager. James Inglis-Jones, manager of the JPMorgan Fleming UK Equity Income fund, said there were three strong reasons to start considering...

Russian funds account for half of foreign trade on LSE.(Brief Article)
April 7, 2003... By James Mawson More than 50 per cent of international equity trading on the London Stock Exchange comes from funds investing in Russia. Don Cruickshank, chairman of the London Stock Exchange, at the sixth annual Russian Economic Forum...

Newton under fire after charge increase.(Brief Article)
April 7, 2003... Newton has raised the annual management charge on its flagship Income fund. But the fund house has been accused of using the "classic widows and orphans" fund as a cash cow. The fund manager sent letters last week to every unit holder...

Mini Isas enjoy big rise in sales.(Brief Article)
April 7, 2003... Sales of mini equity Isas increased last year, despite the gloom of the just-finished Isa season. The number of stocks and shares mini Isas opened in the third quarter of the 2002 tax year rose 88 per cent compared with the same quarter in...

Dodd places faith in oil exploration companies; Increased energy demand in Asia-Pacific fuels Artemis manager's belief in oil.
April 7, 2003... By Gabriela Pomeroy JOHN Dodd, manager of the Artemis UK Smaller companies fund, is betting on over exposure to oil exploration companies. Fifteen per cent of his AGBP243m fund is invested in oil exploration and oil services companies,...

Newton to consider protected fund launches.(Brief Article)
April 7, 2003... THE Newton Protected Higher Income Plan has raised AGBP7m since launch on 3 March. The plan, whose offer period closes on 28 April, is linked to the Newton Higher Income fund. However, the fund attracted more interest than the protected...

Lazard Alpha takes bet on Barclays.(Brief Article)
April 7, 2003... by Hayley Frain BARCLAYS is the newest and largest overweight holding in the Lazard UK Alpha fund. The Barclays holding is 6.66 per cent of the portfolio and is 4.3 per cent overweight against the FTSE All-Share index. According...

Legg Mason plans European offensive; Firms plans to increase distribution by moving its Dublin range of Oeics into Europe.
April 7, 2003... By Simoney Girard Legg Mason Investment Funds is preparing to expand its mutual fund presence in the UK and Europe. The asset manager said it was planning to increase its distribution capabilities by moving its Dublin range of Oeics...

Going live.(contest announcement)
April 7, 2003... Investment Adviser's Fantasy Portfolio Challenge will go live on 14 April. Entrants have until 22 April to complete their portfolios. The overall winner will collect AGBP2004-worth of holiday vouchers for 2004, presented by FPC backer...

IFAs' PI fears hit zero funds.(independent financial advisers; professional indemnity)(Brief Article)
April 7, 2003... By Gabriela Pomeroy Zero fund prices are being depressed by IFA fears that using them might jeopardise their professional indemnity cover. Recommending split capital investment trusts makes PI either more expensive or impossible to...

Mobiles aide a telecoms rebirth; Telecoms industry holds growth potential, while tech market remains flat, writes Helen Delaney.
April 7, 2003... While analysts and fund managers expect growth in the technology market to remain flat throughout 2003, they believe the telecommuni-cations industry holds some potential for investors. Robin Geffen, chief investment officer and managing...

Joe Public keeps on spending.
April 7, 2003... Rising tensions in the Middle East are influencing business decisions and hampering global economic growth. In a similar vein, prospects for corporate growth for 2003 are limited, according to the US National Association for Business Economics...

Old Mutual rides out the burst TMT bubble.
April 7, 2003... The technology and telecoms sector has been badly battered sectors since the technology bubble burst in 2000. The sector has failed to revive since then. With the continuing global economic slowdown technology remains on the back burner for...

MANAGER COMMENT.
April 7, 2003... We moved over from Gerrard to Old Mutual just over a year ago and the fund also changed from a country basis to a global basis and now it is a best of breed and a sector based fund. I was co-manager of the US desk at Gerrard and it remains...

Tech firms radiate conflicting signals.
April 7, 2003... The October rally in technology shares last year proved short-lived as the crushing bear market has dealt a severe blow to the cult of equity. Furthermore, the technology companies appear to send mixed signals to the markets. For example,...

FT fund ratings: TECHNOLOGY & TELECOM.(Brief Article)
April 7, 2003... Investment Adviser's Fund Ratings service provides detailed RCP (Risk, Charge, Performance) ratings on authorised UK unit trusts, investment trusts and Oeics. We show Risk, Charge and Performance ratings where available for all funds. Where no...

How do you justify changing a winning formula?
April 7, 2003... I hate it when managers change the mandates of funds that I like. That has just happened to my recommendation in October -" the Legg Mason European Telecom fund. Fundamentally, I tipped that fund because it was a consumer rather than a...

APS cautiously enters into the retail market; Chinese and Korean firms will be focus for Far Eastern Retail Growth fund.
April 7, 2003... Singapore based APS Asset Management has launched its first fund into the retail investment market. The Far Eastern Retail Growth fund, launched at the end of February, is the company's first venture into the retail market. The launch was...

Defensive stance pays off for Way's growth portfolio.(Brief Article)
April 7, 2003... By Shaista Ahmed The AGBP510,000 Way Professional Global Growth Portfolio was launched on 22 April last year. At the time of the fund's launch, Paul Kim, investment adviser at IMS, who runs the fund for Way, said the fund would be...

2003 calendar.
April 7, 2003... March Funds launched -Allianz Dresdner Allianz Dresdner has launched its High Income Bond fund, a repackaged and reworked incarnation of the Dresdner RCM Managed Preference Bond fund. (3 March). -Isosceles Asset Management...

Right time, right place; With managed funds performing badly, the development of the ETF market is most timely.
April 7, 2003... The exchange traded fund is the hot new product in the investment world, but how effectively does it help the IFA? For those who do not already know, an ETF is essentially an open-ended investment trust, which pursues an index-tracking...

Value for money principles drive market in Europe; Investment Adviser editor Dewi John chaired a roundtable of experts: Deborah Fuhr, executive director of global ETFs research at market maker Morgan Stanley, Adam Seccombe, director of sales and marketing of fund provider iShares, and Jon Winslade, region.(exchange traded funds)(Interview)
April 7, 2003... Investment Adviser: What are the benefits of exchange traded funds? Deborah Fuhr: The basis of the ETF is to allow people to easily get index exposure to a broad array of indices at real time prices during the trading day. These products...

Six steps to a achieve a balanced portfolio; With IA's exclusive online Fantasy Portfolio Challenge beginning next week, it is important to remember that there are six key factors that need to be considered in order to construct a well-diversified and balanced portfolio. FPC backer FundsNetwork's Ro.
April 7, 2003... Asset allocation and portfolio construction are becoming ever-more important considerations for advisers within our rapidly changing industry. Indeed, the Sandler Report made explicit reference to the impact of these factors on returns and...

Income fund gets whipped into shape; Luckraft breathes life back into the Framlington UK Equity Income fund.
April 7, 2003... One of the biggest fund manager moves of last year and a surprise to many was the move of Nigel Thomas and George Luckraft from ABN to Framlington. The move has added extra dynamism to the Framlington team and in my view has helped them move...

Time to leave the emerging markets alone; Emerging markets appear to offer too much risk for too little financial reward.
April 7, 2003... Emerging markets have been a disaster area for UK investors over the last decade. Think back to the Mexican peso devaluation of 1994, the Asian crisis of 1997, the Russian default of 1998 and the Argentine default last year. Over the 10...

Look to long term not the front line.
April 7, 2003... Samuel Johnson once wrote "every man thinks meanly of himself for not having been a soldier". The reaction to the war in Iraq gives eloquent testimony to this: from news reporters taking every opportunity to don the flak-jacket, to fund...

No point in singing if you're not winning; Investors are realising the 'long term, stocks rise' mantra may not always be true.
April 7, 2003... There is something soothing about chanting. Some find the liturgy has a calming effect, others that singing "Swing Low, Sweet Chariot" at rugby matches induces a feeling of well being. To each his own. There is another popular mantra, however,...

SRI in a time of war; Can ethical funds make money from war-driven rallies and still be ethical?(socially responsible investments)
April 7, 2003... There is no doubt that the rally last month, mainly concentrated in the UK's top 100 companies, makes it difficult for ethical funds to perform well in times of uncertainty such as these. Ethical funds are generally made up of small and...

Everything fund managers know could be wrong; Helen Delaney talks to Neil Lovatt, director of marketing development of Scottish Life International, about why he believes that analysis tools and theories are incorrect and the idea of out-performance fees for managers.(Interview)
April 7, 2003... Investment Adviser: You are an advocate of the behavioural school of economics and therefore do not think you can predict what is going to happen in the markets. Why is that? Neil Lovatt: It is not about predicting what is going to happen,...

Industry divided over hedge fund regulations; Risk to investors from hedge fund lies at the heart of the industry's mixed response to the FSA's announcement.
April 7, 2003... The recent announcement by the FSA that hedge funds would not be regulated and opened up to the retail investment market has received a mixed response from the industry. Some within the industry feel that the FSA unfairly restricts access...

Managers criticise high performance fees.(Brief Article)
April 7, 2003... One of the most controversial aspects of hedge funds has been the high performance fees that some charge. Bedlam Asset Management, which launched at the end of last year amid a blaze of publicity calling for transparency within the...

Consultation means little hope for pensions in Budget.(Brief Article)
April 7, 2003... The Budget on Wednesday is expected to offer nothing for pensions this year, according to providers. Simon Douglas, managing director of marketing at Standard Life, said there was little chance that anything at all would come up because of...

Green paper slammed as missed opportunity; Responses to green paper call for better incentives for employers to contribute.(Brief Article)
April 7, 2003... By Holly Thomas The pensions green paper was branded a missed opportunity by the Association of British Insurers in its responses to the government. As the consultation closed it was apparent that it came as a disappointment to many....

EqLife nears with profits fund stability.(Brief Article)
April 7, 2003... Equitable Life is making progress in stabilising its with profits fund, according to its preliminary results for 2002. The insurer, which reported figures last Monday, said it was cautiously optimistic in terms of its financial status, and...

Equity bubble fears over concentrated Russian market.(Brief Article)
April 14, 2003... THE small number of actively traded Russian equities is in danger of causing a bubble. Yury Lopatinsky, Moscow-based fund manager of the offshore Russian Federation First Mercantile fund, said that in 1997 there were 300 listed firms...

Beleaguered Schroder fund gets new manager; Schroders Global Emerging Markets fund gets third manager in two years.
April 14, 2003... By Ashutosh Kumar ROBERT Davy has taken over the GBP86.2m Schroder Global Emerging Markets fund from Giles Neville. Prior to Mr Davy, the GBP86.2m fund has had two managers since September 2001 from London-based Giles Neville to...

Olympus Capitals joint MD resigns.(Brief Article)
April 14, 2003... PHILIP van den Berg, joint managing director and co-founder of Olympus Capital Management, has resigned. Mr van den Berg, who was also the co-manager of the GBP62m Olympus Euro fund, a hedge fund, has left the company to pursue other...

Appointments.
April 14, 2003... DWS Investments has appointed Mark Newsam as head of its UK distribution support service. Mr Newsam formerly worked for Lloyds TSB as an IFA and HSBC Asset Management as a senior sales manager. Private client wealth managers Gerrard has...

US equities boost for Merrill fund; US equities market is attractive and fairly-valued, says Boon.(Brief Article)
April 14, 2003... By Simoney Girard The US stock market offers renewed opportunities. according to Merrill Lynch. Richard Boon, manager of the MLIM American fund, said the value of his fund rose from GBP120m at the beginning of March to almost GBP200m...

Buxton backs high risk music sector.(Brief Article)
April 14, 2003... Schroders Richard Buxton has invested 2 per cent of his portfolio in EMI. Mr Buxton, manager of the GBP106.8m Schroder UK Alpha Plus fund, said EMI was a high risk stock. EMIs share price had fallen sharply since mid-January when it...

Glanmore welcomes Disney as new tenants.(Brief Article)
April 14, 2003... Mickey Mouse and betting agents are welcome new tenants for the Glanmore property fund. The fund has benefited from three new purchases: a retail and office building in London, let to Walt Disney and William Hill; an office building on Red...

Caledonias high discount attracts analysts attention.(Brief Article)
April 14, 2003... A relatively high discount and wide dividend yield offered by the GBP470m Caledonia investment trust have caught analysts interest. Tom Tuite-Dalton, analyst at Arbuthnot Securities, formerly at Old Mutual Securities, told investors to...

Investors consider cash exit on ailing Latin trust; Aberdeen board says 95 per cent of NAV cash exit may not be possible.(Brief Article)
April 14, 2003... By Ashutosh Kumar The shareholders of the Aberdeen Latin American trust are being given an option to take their cash and walk away. This follows the passing of a resolution last week by the shareholders to liquidate, make open-ended or...

No Japan dividend as Baillie reduces gearing.(Brief Article)
April 14, 2003... Gearing and poor selection in financials and machinery stocks has hit the GBP79.8m Baillie Gifford Japan trust. No interim dividend has been declared by the trust whose net asset value per share fell 15.6 per cent over six months to 28...

NU Isa investors face transfer loss.(Norwich Union PLC's individual savings accounts management)(Brief Article)
April 14, 2003... NORWICH Unions fund supermarket investors could see their Isas devalued if they transfer to another provider. The company closed its fund supermarket in February, having attracted only 250 Isa customers in two years roughly equating to a...

Thomas places faith in BTs internet strategy; BT will yield more than 5 per cent in the year ahead, says Framlington manager.
April 14, 2003... By Dewi John Framlingtons Nigel Thomas has taken a contrarian bet on the telecoms sector in particular, out of favour BT. The star manager of Framlingtons Select Opportunities fund, which he took control of last September, has Vodafone...

Steer finds good value in defence.(Brief Article)
April 14, 2003... New Stars UK Aggressive fund is favouring stocks with a military and defence theme. Tim Steer, director and manager of the GBP66.1m fund, said there was good value to be had in the defence-related arena of the FTSE250. Mr Steer said...

Wise quits EMX over differing expectations; Max Wright will take over from Phil Wise at the electronic fund trading service.
April 14, 2003... By Ashutosh Kumar PHIL Wise, chief executive officer of EMX, the electronic fund trading and messaging service, has resigned. Mr Wise, former chief operating officer of wholesale banking and treasury at Halifax, said he had "several...

Browns Isa tax dismissal disappoints the industry.(Brief Article)
April 14, 2003... Fund management companies and IFAs are disappointed with Gordon Brown dismissing the demand to continue the Isa tax credit. The fund management industry had pleaded with Chancellor Brown to not abolish the 10 per cent Isa tax credit as it...

Borrower Brown gives boost to gilt investors; Chancellors Budget policy may see managers moving back to government bonds.
April 14, 2003... By Simoney Girard UK government bonds funds may be given a new lease of life under Gordon Browns borrowing Budget policies. The Chancellor announced a gilts issuance of 32 per cent of national income in 2003 to carry out his intended...

Managers warn over a tax transparency delay.(Brief Article)
April 14, 2003... By Simoney Girard Delaying a decision on cancelling the 5 per cent deferral on investment bonds will hinder product transparency, claim managers Rob Page, marketing director for New Star Investment funds, said: "We are not in favour of...

Child Trust fund is not cost effective, say advisers.(Brief Article)
April 14, 2003... The new Child Trust fund has received a lukewarm response from IFAs. Colin Jackson, director of Baronworth Investment Services, said: "If the government is expecting IFAs to sell the product, it will be unhappy with the response because it...