23 May 2007
Skandia and Selestia's combined fund platform will launch in July under the name Selestia Investment Solutions.
Money Marketing printed my comments on the May 3 edition concerning the ABI's proposals. This was before I saw the excellent piece by Paul MacMillan outlining the ABI's 10 proposals.
It is reported that a large proportion of funds in the Investment Management Association's UK equity income sector are failing to meet the minimum yield target of 110 per cent of the FTSE All Share index. This is a consequence of the shrinking universe of firms with above-average yields.
The Adviser Fund Index panellists made significant changes to the Aggressive index in this month's rebalancing. The number of constituent funds rose from 109 to 124, with 21 funds ejected and 36 brought in.
Critical-illness insurance payouts should reflect the medical capabilities of the moment.
Tanya Powley reports on the 11th-hour bids to halt Hips.
Property investment manager Arlington Securities is set to launch an adventurous fund of funds in the next three to four months.
Work and Pensions Secretary John Hutton says that appointing a board of trustees to run personal accounts will be absolutely critical if the scheme is to be a success.
Braemar Group plc has appointed Niall MacKinnon as senior account manager
Analyst claims arbitrageurs are causing concern but Witan denies suggestions that investment trusts are 'sleepy'.
City Financial's multi-asset multi-manager funds have invested in two new boutique funds from PSigma Asset Management and Asian hedge fund specialist Coupland Cardiff on the strength of the managers' track records with bigger investment groups.
Money Marketing editor John Lappin replies to criticism from the ABI.
Vertex's managing director of life, pensions and distribution helped foil a multi-million-pound forgery fraud when he worked for the Bank of England but has so far been outfoxed by foxes on his farm. He can console himself in the knowledge that his company leads the way with IFA technology solutions and the next step is expansion beyond the UK. Now his dream product is a commission and statement process. Interview by Sam Shaw.
A widower seeking to minimise IHT on his estate would do well to consider a portfolio of Aim shares.
Nicolas Sarkozy's clear win in the French presidential elections should bring many reforms that lead to strong gains for the French equity market.
Direct Life & Pensions Services and Fool.co.uk have linked up to launch a life insurance brokerage called The Motley Fool Life Insurance Service.
The retail distribution review is likely to call for a clear graded segmentation of advice from financial planner through to transactional-based advisers and down to a simplified advice service, says the FSA.
We need answers on how schemes are exempted from personal accounts.
F&C has announced that it is to sponsor newly promoted Birmingham City in next year’s Premiership.
F&C says it is not tempted to combine its multi-manager experience with its ethical expertise by launching an ethical fund of funds despite greater awareness of issues such as climate change among investors.
Prudential distribution director Dave Harris explains how factory gate pricing works and the advantages that it offers for clients and advisers.
After the last bear market gave multi-manager the kickstart that has doubled growth in the last three years, funds looks set to benefit further from the treating customers fairly requirements. Neal Underwood looks at how the sector plans to progress.
Chris Salih focuses on some of the main funds competing in the special sits sector and examines how their managers are rated by investment advisers.
Friends Provident's swoop for Sesame and high-net-worth IFA Pantheon marks a huge change in strategy for the life office on distribution but its rationale is unclear. It had restricted itself to buying stakes in businesses, like many other insurers.
The FSA has reinforced its warning that the UK sub-prime market could go the same was as the US market and that lender vulnerability is beginning to show through.
The FSA has warned small adviser firms that they are not beneath the regulatory radar and cannot escape its attention.
Which? and IFAs make unusual bedfellows. The fact that they have both condemned the ABI's proposals to the FSA on distribution has to be seen as further evidence of quite how much the trade body has lost the plot.
Steeped in incongruity, 130/30 funds have been labelled everything from "the optimal investment solution" to the "worst of both worlds" as they hang on to the coattails of hedge funds to become a mainstream product in the investment arena.
With home information packs just a week away, fears are growing that they will put off people from testing the market.
Little did I know that I would be writing about Home Information Packs here for the second week running but with just one week to go, the Government made a humiliating last-minute climbdown on Tuesday delaying the packs for two months.
Helen Pow reports on how the base ball is being batted around by the Bank of England.
The Investment Management Association has appointed F&C Asset Management's Robert Jenkins as the group's new chairman, replacing Threadneedle's Simon Davies with immediate effect.
Jupiter Asset Management has agreed a 425m covenant-light loan to move a step closer to buying out its German owners Commerzbank.
The Norwich Union-owned platform has also increased the minimum single contributions to its Sipp from £100,000 to £250,000 to deter inflows from current adviser users and enable it to work through an existing backlog.
Technical Connection's John Woolley explains how loan trusts can offer simple and effective inheritance tax planning.
Good news for the protection industry for once. After a slew of bad press in recent weeks, notably on Watchdog and in Which?, critical illness insurance came up trumps in the Financial Ombudsman Service’s annual review with a drop in the number of complaints received about the product.
For bond managers, house price growth is a useful indicator of future movements in the base rate.
Millfield Partnership Limited has been declared in default by the Financial Services Compensation Scheme, with around 150 claims now eligible for payment.
Money Marketing won a smorgasbord of awards at this year’s headlinemoney personal finance awards, held at the Royal Lancaster hotel in London.
Having returned to these damp and cool shores from sunnier climes, there has been a lot to catch up with. It was a mixture of good news and bad news.
Life industry analyst Ned Cazalet says Friends Provident could be seeking a door into the wrap market by buying Sesame. By Nicola York.
This week the pensions industry glitterati descended on Nice for the first Money Marketing Retirement Summit. Attendance at the Cannes Film Festival, just 20 minutes down the road, plummeted as screaming fans bundled into Nice to catch a glimpse of their favourite pensions guru.
If one of your business clients called you a hypocrite, would you have a leg to stand on?
Now special sits is settled, Fidelity needs to take a look at its other funds.
Major life companies take action on low business persistency rates.
PSigma Investment Management, the bespoke private client investment management specialist, has appointment a trio of fund managers from Citigroup Quilter as part of its continued drive into the private client market.
It is probably fair to say I have not been the Association of British Insurers' biggest fan over the years. In my view, and that of almost all journalists I have spoken to, the insurers' trade body is one of the most defensive and outdated organisations in this industry.
The Government has made a dramatic U-turn by delaying the introduction of home information packs by two months just a week before they were set to be introduced.
With some investment advisers having put Fidelity special sits on hold this week, Chris Salih says some of its rivals are stepping up their marketing campaigns.
Considering the factors that led to the decision in the case of Smith and others versus HMRC.
Outgoing Standard Life chairman Sir Brian Stewart came under fire from shareholders over the performance of the life office’s endowment policies at the first AGM since it became a listed plc.
Standard Life held its first AGM as a listed plc today in Edinburgh which saw Sir Brian Stewart officially step down as Chairman.
It never falls to amaze me when just before a major seismic shift in the retail financial services sector, we witness two networks being bought at a premium price.
While my esteemed colleagues were off sunning themselves, sorry, I mean scouring les rues of Nice for pension stories at our Retirement Planning Summit some of us were stuck in London covering the home turf. I’m not bitter though, as the sun was shining in London for a change.
James Phillipps analyses core holding Baring European growth fund.
The ABI's latest crackpot scheme is an admission of members' shortcomings.
Punitive tax charges may make many Sipp and SSAS holders rethink the delaying tactics which were intended to see their pension funds become estate planning vehicles, says IPS Pensions managing director Rupert Curtis.
It was great to see BM Solutions launch a capped range of buy-to-let rates. To the best of my knowledge, it is the first major lender to offer this range of products for landlords.
With around 70 per cent of borrowers being on a fixed rate, how effective are bank base rate moves at curbing spending and cooling the economy? With only three out of every 10 people seeing an increase in their mortgage payment next month, how quickly will people's propensity to spend be affected?
The forthcoming closure of one of the oldest retail technology funds in the UK market, Aegon technology (formerly known as Scottish Equitable technology) brings to mind the old debate of whether tech was really the investment of the future or simply a marketing gimmick.