Exeter Investment Group is planning to launch an open-ended UK Smaller Companies fund and a European...
Exeter Investment Group is planning to launch an open-ended UK Smaller Companies fund and a European portfolio over the next 18 months as it continues its policy of product diversification.
Ian Jolliffe, managing director, said the group has a very good track record on the closed-ended UK Smaller Companies Income Fund trust, which it can use to market an open-ended vehicle.
Under an Oeic structure, Jolliffe said it was likely the group would use the trust's management team of Nick Brind and Chris Wittingslow.
The news follows the group's results for the year ended 30 September 2001, in which consolidated pre-tax profits increased 43% to a record level of £5.5m, with earnings per share increasing from 28.05p to 38.81p.
The group has now gone from 84 in Autif's group rankings to 73. In September alone, it did 0.7% of all gross figures and 8.47% of all the net retail business.
Jolliffe said: 'We will carry on looking at our product range, our unit trusts and our distribution, of which we have good life links with AIG and Winterthur.
'Over the past year, the spend on personnel and marketing has doubled and we will maintain this commitment to spend on resources.'
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