Goldman Sachs now manages all Lincoln's unit trust and Isa fund management and while the group is p...
Goldman Sachs now manages all Lincoln's unit trust and Isa fund management and while the group is paring back its UK business, retail fund sales are to remain open for IFA business.
New and existing clients of Lincoln's unit trust managers can continue to buy, sell and transfer funds within the company's portfolio, according to Michael Tallett-Williams, managing director at Lincoln.
He said: "Although the sales force has now transferred to Inter-Alliance, Lincoln will continue to manage its book in the UK. We have 630,000 clients whose business we value and they will be able to deal with Lincoln as before."
The IFA division is based at the company's Barnwood offices and continues to offer Lincoln products. Lincoln Financial Group.
It is also going to close its Uxbridge operating centre and concentrate its activities at its Barnwood, Gloucester offices.
In addition to managing its unit trust range, which includes funds such as Lincoln Internet Tollkeeper and Lincoln Growth funds, Goldman Sachs will be managing some of the group's pension funds along with other external managers. These include Lazards, Schroders, Framlington, Jupiter, Perpetual and Delaware.
The Tollkeeper fund is ranked 39 out of 55 funds in the Specialist sector, over the three months to 8 November with bid to bid returns of -4.9%.
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