Briefly: Midland starts new unit trust

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MIDLAND BANK has cut the number of its unit trusts from 16 to 11 and launched its first trust since 1988, the Midland Balanced Fund.

The new fund takes a cautious investment approach, investing directly across a range of cash, fixed-interest vehicles and equities. Investments before 30 October will receive a bonus allocation of two units per hundred.

Details from branches or from MPFS Customer Services, Norwich House, Nelson Gate, Commercial Road, Southampton, SO1 0GX.

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