Flagged some months ago, the fund of investment trusts products from Iimia is finally launching in o...
Flagged some months ago, the fund of investment trusts products from Iimia is finally launching in official guise under the guidance of fund manager Nick Greenwood.
The Accelerated Fund is constructed as an OEIC that is PEP and ISA compliant, and will target 40 out of 400 listed UK and Global investment trusts.
It is looking to take advantage of share prices driven down by general stock market falls and particular events such as the split capital investment trust sector scandal.
Funds of funds products in the investment trust space are of considerable interest at present because of FSA investigations in the aftermath of the splits debacle.
Proposals put forward so far indicate that limits will be placed on cross-holdings between investment trusts to restrict the effects of multiple gearing – the major cause of compounding losses for splits investors.
The Accelerated Fund will not be directly affected - all OEICS are UCITS compliant by definition and so are governed by other rules than listed closed ended funds – but its portfolio will make for interesting reading in relation to the FSA's proposals and the splits sector.
The initial offer period runs between 22 to 30 April, and comes with a 5% initial charge and 1.75% or 1.25% annual charge, depending on size of investment.
IFAs are being offered 3% initial commission, and 0.5% servicing commission.
Further information is available by following the web link to the right, or by phoning Iimia on: 01392-217-788
Three shifts in sector
Takeover rumours continue
Raised £116m in total
Protecting and dividing family wealth
'Pensions could veer off course'