Five years ago

What made the news on 8 March 1999

Alliance Capital enters UK via Oeic US mutual funds group Alliance Capital was launching into the UK intermediary market by establishing an Oeic. The group's range of funds was to mirror those in its Luxembourg Sicav, which was the centre for Alliance Capital's non-US activities. Among the funds to be launched was the American Growth Portfolio, which was to drop a 32% exposure to technology. FSA moves on Cat-standard single pricing The FSA announced unit trust groups could use any method for achieving a single price for unit trusts as long as the buy and sell price of the unit was the s...