New entry in ethical market

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The Independent Online
Friends Provident is to launch its first investment trust, the Ethical Investment Trust. It will have a split capital structure consisting of zero dividend shares and ordinary shares. The trust will have a fixed life of eight years and payment will be in two parts - 60p on application and the balance (40p for ordinary shares and 43p for the zero dividend shares) due in February. Minimum subscription is pounds 1,000, and the fund qualifies for a PEP.

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