Investec Asset Management is to put a 2% discount on its Capital Accumulator unit trust from this we...
Investec Asset Management is to put a 2% discount on its Capital Accumulator unit trust from this week, writes James Thorneley.
The £25m fund which invests in zero dividend preference shares of split capital investment trusts formerly carried the prefix Guinness Flight. But like all of the group's unit trust range this has been altered to Investec to identify more clearly with the group brand.
The discount on the fund coincides with the launch of Aberdeen Asset Managers own unit trust which invests in zeros. Investec is offering a 2% discount from the initial charge of 5% with IFAs able to claim 3% commission and 0.5% renewal from the 1% annual management fee.
The fund was launched last summer.
Over three months it is ranked five out of 27 in the UK Other Bond sector on an offer to bid basis.
Second preference falls at the third
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