The Framlington Managed Distribution fund, run by Richard Peirson, will close on 30 September and it...
The Framlington Managed Distribution fund, run by Richard Peirson, will close on 30 September and its assets liquidated. Investors are being offered the choice of redeeming their holdings or switching into the firm's Managed Income portfolio, though investments will automatically be cashed if no instructions are received. If Pep and Isa investors fail to contact the firm prior to liquidation their assets will be transferred into the Gilt fund to maintain their tax-free status. While the firm will incur legal and administrative fees when the portfolio is closed, it will meet them in full...
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