news in brief

• The objective of Investec's £117m Capital Accumulator fund has changed as the pool from which it p...

• The objective of Investec's £117m Capital Accumulator fund has changed as the pool from which it picks its investments has reduced. The fund previously sought to achieve capital growth by investing mainly in the zero dividend preference shares of split-cap investment trusts or equivalent securities. However, with a growing number of splits winding up, manager Alistair Mundy has had to seek alternatives, mainly structured products, and the objective is now to achieve growth by investing primarily in equities and related derivatives. • Legal & General has designed an investment bond for B...