23 January 2008
Noble Fund Managers is raising up to £14m for its Noble Aim VCT, previously the First State Investments Aim VCT.
Aegon Asset Management is offering a discounted initial charge on three of the funds within its UK offering.
The Association of Independent Financial Advisers launched its manifesto for advice at a parliamentary event with pensions minister Mike O'Brien today.
Epic Private EquityEpic VCT
Arc Fund Management Holdings has added to its business offering with the acquisition of Independent Investment Associates (IIA) Limited for some £2.1m.
The retail distribution review has provoked a great deal of debate across the industry over how the proposals might affect advisers and providers but there has been less focus on the practicalities of delivering these enhanced services to the consumer.
The Northern Rock endgame moved a stage closer this week after the Government agreed to convert the stricken lender's Bank of England loan into state-backed bonds.
Close Investments has temporarily suspended dealing in its property investment portfolio.
Collins StewartUK Focus Fund
Cru Investment ManagementAfrica Invest Capital Protected Plan
Alistair Darling has confirmed a flat rate of 18 per cent capital gains tax will be introduced on April 6 but has offered concessions to small business owners.
Dawnay Day QuantumEuropean Stockmarket Maximiser III
An old friend of mine, a seasoned campaigner in the battlefields that can constitute the world of derivatives trading, keeps me up to speed on some of the more esoteric influences on markets. Through him, I learned early on of the impending sub-prime crisis. Such assistance should not go unrewarded so I rang him last week to suggest a convivial lunch by way of a thank you. "Too busy," he said.
Falcon chief executive Allan Rosengren has highlighted growing concerns over some of the exit strategies being offered to advisers who sell their businesses or retire.
We have had proposed fundamental changes to capital gains tax, as well as the so-called transferable nil-rate band, to assimilate in the wake of the preBudget report.
After a difficult 12 months at F&C that have seen dividends cut and takeover rumours rife, reports now suggest that parent Friends Provident may sell its 53 per cent stake in the firm.
Fidelity International has announced the appointment of Dermott Whelan to its MultiManager team as portfolio manager.
The life industry received a bit of a shake-up this week as Friends Provident was understood to have had an informal takeover offer from US private equity firm JC Flowers.
January can be a pretty sobering time - literally for some. Apparently, more divorce proceedings begin in this month than any other. Depression is seasonally very high and then there are all those who leave their job, cut off their hair, commence a mid-life crisis or just sit around moping.
The banking world suffered another serious blow last week with the discovery that a rogue trader at Societe Generale, Jerome Kerviel, committed fraud to the tune of £3.7bn.
The FSA is warning that mortgage intermediaries and packagers could face pressures on profitability due to declining business volumes.
Fidelity FundsNetwork is adding five fund of funds portfolios to its platform in a bid to counter the potential effects of the retail distribution review on advisers.
Many people are seeking to lead greener lives and are prepared to back their ethical and environmentally aware approach in investment.
The outlook for the UK economy is uncertain. Consensus forecasts for GDP growth at around 2.3 per cent in 2008, down from the expected 3.1 per cent last year, are vulnerable to the effects of problems in commercial credit markets on spending decisions by corporate and consumer borrowers. Of particular concern is the evidence emerging of price weakness in the property market.
Henderson's multi-manager team are monitoring Resolution Cartesian's 130/30 fund as a potential investment but holding off until a track record is established.
HSBC InvestmentsHSBC GIF Russia Equity Fund
Andrew Paddick, director general of the Institute of Insurance Brokers has died suddenly.
Many in the industry have been mourning the death of Dr RDC Brackenridge, a pioneer of medical underwriting, who died recently at the ripe old age of 90.
Providing financial advice to people approaching and in retirement may get even tougher if inflation re-enters the equation.
They say bad luck comes in threes and this week was no exception for investment advisers as they were knocked back on three different fronts.
Jupiter Asset Management chief executive Edward Bonham Carter has called for investors to hold their nerve following the market downturn as the sharp decline could provide long-term buying opportunities in equities.
If may be an unkind thought but I can’t help thinking that Zippy, George and Bungle could regulate the financial services industry during the good times.
As Andrew Fisher gets appointed head of the leaders summit group at the Personal Finance Society, it may upset a few people.
I am sure that the statistics will prove otherwise but it seems to me that there cannot have been many times when an industry has enjoyed a period of growth like that of the mortgage industry over the past 12 years.
Leeds Building SocietyThree Year Fixed Rate
Leeds Building SocietyTwo- Year Fixed Rate
Leeds Building Society5.54% Five Year Fixed
Long-term commitment is something where many people have a problem but that might be what borrowers selecting their next mortgage should be doing.
Midas Capital has made an investment in UK commercial property after selling out of the sector over a year ago.
Investors have endured a white-knuckle ride after one of the most volatile weeks in the FTSE’s history.
Noble Fund ManagersNoble Aim VCT Top Up
It is a comedian's standard subject matter that the world of consumer protection is rife with stupid warnings - coffee cups that warn you they might contain hot liquids, bags of nuts that warn you they might contain ...you guessed it.
OPM Fund Management expects UK commercial property prices to benefit from foreign investment through sovereign wealth funds.
The Northern Rock debacle and credit crisis have had a knock-on effect in the investment trust sector. Investment trust shares trade independently from their net asset values. The direction of prices is linked more to supply and demand than the performance of the underlying assets.
I have mentioned this before in a previous Money Marketing column so I will not bore you with the story again but a very good friend of mine recently had cause to thank his lucky stars that he had taken out critical-illness insurance a few years earlier.
IFAs could offer their clients a significant saving on their investment should they choose to invest down the EIS route, that’s according to pre-IPO investment specialist Pre-X Capital Management.
Former pensions minister and current Culture Secretary James Purnell has been appointed as Work and Pensions Secretary taking over from Peter Hain who quit on Thursday.
Barclays has introduced the regular income bond, a capital-protected bond linked to the performance of the Dow Jones EuroStoxx 50 index for five years.
The final date to respond to Lord Hunt's review of the Financial Ombudsman Service passed on january 16. This particular review has, necessarily, been overshadowed by the RDR and got only 39 formal responses, 38 of which are shown as a matter of record on the Hunt review website www.thehuntreview.com.
Shadow minister for work and pensions Nigel Waterson was arrested after allegedly assaulting his teenage son and daughter.
Scottish Widows has become the latest fund manager to impose restrictions on withdrawals from its commercial property funds amid growing concerns about dwindling cash reserves.
Skin tumours are the most common pet insurance claim, according to new research.
The idea of maintaining a standing pensions commission to foster consensus across all stakeholders is a sound one. It is a shame that such an organisation was not in place before Adair Turner and his team started their deliberations.
Many of last year's issues will continue to have an impact but there is one in particular that we must really get to grips with - succession planning.
Among many papers issued by the FSA in the pre-Christmas rush was one on its investigation into whether the market meets the needs of older consumers. It was assessing what has become known as decumulation or using assets built up over a working lifetime to provide retirement income. This is mainly through three product groups - annuities, income withdrawal (unsecured and alternatively secured pensions) and equity release.
I am an experienced investor in my 80s but I have become concerned by recent volatility. I am mainly in income-producing funds but wonder what else I could invest in.
Northern Rock continues to hog the headlines in what must be the most drawn out affair the mortgage industry has ever seen.
ThreadneedleEmerging Market Local Fund
It is going to be a difficult year, with possible recessions in the UK and US. House prices are expected to fall by 5 to per cent in the UK and more in the US, so I think it is better to avoid these stockmarkets.
Britishinsurance.com has been bought by Towergate for an undisclosed sum.
Standard Life head of UK retail Trevor Matthews has resigned from the firm to join Friends Provident as the group's chief executive officer
NDFATwin Option Kick Out Plan
IFA network Virtual Net has added Berkeley Alexander to its general insurance panel taking the number of providers it has links to up to six.
WoolwichFive Year Fixed Rate
YFM Private EquityBritish Smaller Companies VCT Top Up