Clerical Medical has opened its composite Worldwide Special Situations fund, which invests equally in Fidelity's Special Situations and Global Special Situations portfolios, to new business. The move comes as a result of Fidelity's decision to remove the extra initial charge placed on the Special Situations fund in 2005.
The Institute of Financial Planning (IFP) is to run a one-day seminar on the management of clients' portfolios entitled 'Responsibility for your clients' investment returns: can you sleep at night?' The event will take place on 22 November 2006 at Woburn House, 20 Tavistock Square, London. Prices range from £75 for IFP members and £100 for non-members.
Ben Whitmore has joined Jupiter as manager of its £122m Special Situations fund. He will take on the mandate from Paul Sheehan and will also help to develop the group's institutional business. Whitmore was recruited from Schroders, where he was responsible for the £288m Recovery fund and two investment trusts.
London-based absolute return manager Ruffer has brought the management of its Pacific fund in-house with Mary McBain taking over management from sub-manager Ballingal Investment Advisors in Hong Kong. McBain, who joined Ruffer as research director in May 2006, started work at Invesco MIM as a fund manager on the Asian team.
The Commerce Centre, a new independent advisory source for commercial and personal finance products, has been launched. The online, wholly-owned subsidiary of Thinc is designed to provide commercial customers and consumers with access to a number of unregulated products as well as extensive support from advisers within Thinc.
Quay Software Solutions, part of the Capita Group, has launched its Client Care Desktop Version V3.3.2, upgrading users of the previous version free of charge. New developments include more efficient data reconciliation and an offline version of the software that allows users to synchronise data when they are out of the office as soon as they go online.
Zurich is to bolster its whole of life proposition with the launch of a new vehicle offering clients greater flexibility and choice when picking suitable life cover. The Zurich Adaptable Life Plan is a guaranteed option designed to provide clients with a range of guaranteed premiums and is available as a single life, joint life first or second death cover.
Norwich Union International is lowering the cost of investing offshore by passing annual management charge rebates onto Premier Portfolio investors. Investors in the Premier Portfolio offshore bond will pay a lower net annual management charge, while rebates will be credited to the investor's Premier Portfolio bond on a quarterly basis.
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Avoidance, evasion and non-compliance
From 6 April 2019