Framlington is offering a 1% discount on George Luckraft's Equity Income and High Income funds start...
Framlington is offering a 1% discount on George Luckraft's Equity Income and High Income funds starting on 18 January running to 5 April.
The move follows Luckraft's completion of modelling the two funds into his desired shape after joining the group in September last year.
Since taking over the Equity Income Fund in September Luckraft has cut the fund's FTSE 100 exposure from 50% down to 35%. He has cut its combined exposure to BP, Glaxo and Vodafone from 20% down to just 7%.
In their place Luckraft has built up holdings in small and mid-cap stocks, which now account for 65% of the fund's portfolio.
Other groups are also considering what funds and discounts they will be offering for the upcoming Isa season.
Norwich Union is planning a three-pronged attack for the 2003 Isa season, which will focus on alternatives to standard equity investment.
Investment product manager David Hewison said the firm will be pushing its new Property Isa as well as its Managed High Income and Distribution Funds. Norwich Union's Property Isa is due to be launched on 3 February while the Distribution Fund was launched in December.
JPMorgan Fleming Asset Management is waiving its usual 1% initial charge on investment trusts until 30 April. Trusts managed by the firm include Fleming Managed Growth, Fleming Mercantile, and JPMorgan Mid Cap Investment Trust.
Fidelity is offering a five-in-one investment trust offering, featuring Asian Values, Japanese Values, European Values, Special Values and the Edinburgh trust all in one wrapper.
Investments are split equally between the five trusts, providing exposure to all of the major markets with US equity exposure gained through the globally invested Edinburgh Trust.
The minimum investment is set at £1,000 for lump sums or £100 a month for the regular savings plan. The initial charge is 3.25% and initial commission of 3% is payable with no trail.
Legal & General is planning to refund the annual management fee and all other charges for the year 2003 for all lump sum investments into index tracking Isa's set up between 1 January and 30 April.
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