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Buckles launches range of funds.

WALES' largest independent financial advisor, Rhyl-based Buckles Investment Services, says it expects clients to invest tens of millions of pounds over the next few years in a new a range of funds it launched yesterday with Premier Portfolio Managers Limited.

The Snowdonia Fund is an open-ended investment company which consists of a trio of sub-funds each of which is handled by investment managers.

The sub funds are Snowdonia Income Fund, managed by David Hambidge and Raj Hallen of Premier Fund Managers Ltd, Snowdonia Balanced Fund, managed by David Oakes of Mercater Capital Management Ltd, and Snowdonia Growth Fund, managed by Quintin Ings-Chambers and Nicholas Dawson Paul, of Rensburg Investment Management Ltd.

Buckles Investment Services chief executive Nigel Speirs said: ``We believe that the Snowdonia Funds will offer clients an even better service than before, particularly because we are leading the way in outsourcing the investment management expertise.

``The funds went active on Friday and have already attracted more than pounds 1m. We will be disappointed if that does not reach a minimum of pounds 25m within 12 months. '', The Income Fund has a target yield of 4%, together with long term capital growth. Up to 60% of the fund will be invested in UK equities, the rest in UK bonds. The Balanced Fund aims to provide long term capital growth and up to 85% of the fund will be exposed to equities, primarily UK, whilst the Growth Fund has a similar objective from global investments.

The minimum investment is a pounds 3, 000 lump sum, pounds 50 a month. Charges are an initial 5. 27% and 1. 5% annually.

Established more than 30 years ago, Buckles Investment Services Limited is the largest IFA in Wales and one of the largest operating in the North West of England.

The fund was launched at an event at Bodelwyddan yesterday at which the guest speaker was Gerald Holtham, a member of Glas Cymru and of the Welsh Assembly Government's economic research advisory panel.
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Title Annotation:Business
Publication:Daily Post (Liverpool, England)
Date:Oct 20, 2004
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