What made the news on 19 April 1999
Wider range of funds in the pipeline Groups were preparing to offer a broader product range as the Treasury handed over its fund authorisation powers to the FSA. The FSA was keen to create a broader range of mixed funds, for instance, allowing a unit trust portfolio to invest in other unit trusts, direct equities and investment trusts. The draft Finance and Markets Bill also indicated unit trusts would no longer need Treasury approval for changes to schemes. Pan-European fund from Baring Asset Management Baring Asset Management was offering intermediaries a pan-European fund for the f...
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