Briefly: Midland starts new unit trust

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.