FSCS action opens door for 35,000 consumers

The path has been cleared for investors who had dealings with Exeter Fund Managers Ltd (EFML) after it was declared in default by the Financial Services Compensation Scheme (FSCS). EFML was a fund management firm which invested in split capital investment trusts. However, among allegations of mis-selling it went bust in March 2005. Now, the FSCS says investors in three EFML funds may have claims against the firm. The three funds involved are the Exeter Zero Preference Fund Unit Trust (ZPU), the Exeter OEIC Zero Portfolio (ZPA) and the Exeter High Income Unit Trust (EXHIT). The FSCS con...