Lazards admits defeat and raises fund charges
Article Abstract:
Lazard Brothers' unit trust arm will return to charging an initial fee for unit trusts despite a trend in the sector to cut initial charges. The company argues that price cutting is unlikely to last long. The move will not affect existing investors. Returns to investors will be reduced as a result of the charges. Companies with no initial charges are seeking to increase their market share through offering loss leaders, according to Rupert Tyer, Lazard Unit Trust Managers' managing director.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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When goodbyes matter
Article Abstract:
Investors in unit trusts consider two issues, the reputation of the house, and of the manager. Companies can develop their own management styles and find good quality replacement managers to lessen the impact of a manager leaving. A new manager may bring costs such as increased dealing costs if the new manager seeks a different choice of stocks. Actively managed funds are more likely to be influenced by managerial changes than funds which replicate stock indexes.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Does it matter where your manager is?: common sense suggests that a fund manager based on the spot in his chosen market will perform better than one working from outside. But real life is more complicated than that
Article Abstract:
Invesco, a unit trust company, believes that on-the-spot managers with inside knowledge of the country should perform better, and it has moved specialist teams to regions they invest in. On the spot managers are more likely to speak the language and has more chance of obtaining useful information. The advantages do not always translate into higher returns, and some believe it makes no difference where the fund manager is .
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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