Wealth briefs

urich, 7IM rub hands as wrap accounts loom

Zurich has teamed up with Seven Investment Management (7IM) in the latest bid to cash in on the anticipated explosion of the UK wrap account market. London-based 7IM has selected a raft of fund managers for the new product, which will be marketed to individual investors, brokers and IFAs by Zurich’s Advice Network. The wrap will provide investors with access to the investment know-how of the likes of Fidelity, HSBC and Goldman Sachs.

Private equity growth keeps Jersey afloat A favourite tax haven and investment hub for Europe’s high net worth investors, Jersey has seen fund assets rise by 14 per cent in the 12 months to June 2002. The funds centre has been able to expand despite troubled equity markets thanks to the continued growth of private equity funds domiciled in Jersey, according to Ed Moisson, associate director of research house Fitzrovia. Assets invested in private equity, including venture capital, have swelled from E8bn to E10bn in the past year, overtaking actively managed equity funds as the largest asset class.

Who wants to become a fund manager?/b> The fundamentals of fund management are to be revealed in a three-day course offered by IIR. On the agenda is how to analyse fund management styles, bonds and equity fund management and modern portfolio theory. The event will be held in 2003 on March 12-14, and July 16-18, in London. For information, telephone +44 (0) 20 7915 5602, or email enquiries@iirltd.co.uk.