OEIC fields five funds

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The Independent Online
HENDERSON Crosthwaite, the stockbrokers, is launching a Dublin- based Open-Ended Investment Company that combines the ability to take in new funds and the absence of a discount on assets, with the simplicity of an investment trust and a single trading price.

It will offer five funds: a UK Growth Fund that tracks the FT-SE 100 index, a Global Managed Fund, a Pacific and Far East Fund and European Fund (both managed by Schroders) and a North American Fund managed by Foreign & Colonial. Initial charge is 5 per cent but there is an introductory discount of 3 per cent on the first two and 2 per cent on the three specialist funds.

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