Britannic ups commission on corporate bond funds

Britannic Asset Management is offering enhanced commission on its two corporate bond funds in the run up to the Isa season.

Commission will rise to 3.5% on the Britannic Corporate Bond fund and the Britannic High Income Bond fund until 30 April 2002. There will also be a 0.75% reduction in the initial charge for the High Income Bond fund, taking it from 4.25% to 3.5%.

At the same time, Britannic has reshuffled its fixed interest capacity.

Eddie Middleton, currently investment manager, fixed interest has become head of government securities, while Joe McKenna who currently heads up the desk, has become head of global fixed interest.

Britannic is looking to recruit a further four fixed interest fund managers to strengthen its capability in the areas of swaps and short dated gilts, UK investment grade bonds and non-sterling investment grade bonds.

Britannic Group chief executive Danny O'Neil has stepped down from his position with immediate effect.

O'Neil will remain as a consultant to the group and will become a non-executive deputy chairman of Britannic Asset Management.

Group chairman Harold Cottam will fill O'Neil's role on a temporary basis until a successor has been appointed.

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