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But unit trust clients will need to examine their position carefully

But unit trust clients will need to examine their position carefully. “In many cases, it will not be in the best interests of investors to sell all their holdings, because they will just incur a heavy capital gains tax liability,” says Mr Hollands. “However, they may find that it is appropriate to switch into another Henderson fund.” He adds that anyone looking to make new investments in the technology sector would be better off looking at Soc Gen or Aberdeen’s funds.Whether you own a fund managed by a star or a mere mortal, you must monitor your own portfolio. Investment companies are not obliged to tell you if a senior fund manager leaves, except in the annual report. If your fund manager is a big name, you may find that his or her movements make the City pages of the newspapers.If your manager is moving you need to review the case for holding the fund. Did you buy the fund simply on the basis of the individual fund manager’s record, or were there more fundamental reasons for buying it? Has the manager lived up to your expectations? Will the team of analysts stay or are they off too? In the case of the Henderson technology trusts, the fact that three key members are leaving means that the firm is losing a significant part of its competitive advantage.If a star’s team stays when he or she leaves, it could be worth waiting to see how they do without a celebrity at the helm. If you decide that you would be better-off following the star manager, examine your tax position carefully.Following personalities around the markets is a risky business, not only because they may leave an investment house suddenly.

Like all celebrities, star fund managers tend to draw crowds, which may not be the best thing for your investment. The larger a fund becomes, the less nimble it is when it comes to moving in and out of stocks. Advisers warn that, as soon as a fund becomes larger than £1bn, it loses some of its flexibility.We have been asked to clarify that the case involves the interpretation of management agreements and does not involve any allegation of dishonesty.. With yet more storms expected this weekend, the misery already heaped upon homeowners struggling to cope with flood damage is set to intensify. With yet more storms expected this weekend, the misery already heaped upon homeowners struggling to cope with flood damage is set to intensify.
While some people have had to get used to flooding over the years because their homes are situated in low areas close to rivers or the sea, this time the widespread nature of the floods, coupled with storms and gales, means that many more of us have been affected.The bad news is that with global warming the situation is going to get worse.

So what can we do to ensure that we can deal with whatever nature – or man for that matter – throws our way? The answer is comprehensive insurance which can cover us against all sorts of disaster, natural or man-made. Sure, you have to pay for it but if you shop around and take advantage of competitive pricing, you should be able to find a good deal.”The first thing you need to consider is whether you have enough cover,” says John Castagno, managing director of general insurance at Legal & General. “To get real peace of mind you need to consider whether you have enough rebuilding cover on your house, for example, and to make sure you get this, you need to check your cover on a regular basis.”Buildings and contents insurance for the home are vital. Buildings insurance is compulsory when taking out a mortgage and covers structural damage to homes and outbuildings, which means your garden shed should be covered. It also includes fixtures and fittings, such as baths and toilets. But check the small print of any policy as gates, fences, boundary walls, paths and drives probably won’t be covered.Buildings insurance covers damage by subsidence, landslip, falling trees, storm and flood but an excess – where you have to pay a set amount when making a claim – usually applies. Check what this is when you take out the policy.”People who say they can’t afford a comprehensive package may find that if they opt for a higher voluntary excess they will get lower monthly premiums,” says Mr Castagno.