Money Marketing
25 June 2008
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Cazenove adds UK absolute return fund
26 Jun 2008
Cazenove is to launch a UK absolute return fund for Tim Russell on July 18. The fund will be an open-ended replica of Russell's hedge fund. The group has postponed a European version for Tim Rice.
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Shareholders seek Prestbury EGM
26 Jun 2008
Prestbury's board has received a request for an extraordinary general meeting. Chief executive Lee Birkett declines to reveal what it will vote on but it is thought some shareholders want network chairman Francis Maude, MP, and non-executive director David Anderson to step down.
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87% of assessed firms failed to meet March TCF deadline
30 Jun 2008
Only 13 per cent of firms assessed by the FSA met the March treating customers fairly deadline, which required them to have management information in place to test their TCF systems.
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9,000 Would have been time-barred
26 Jun 2008
A total of 9,000 complaints to the Financial Ombudsman Service would have been time-barred in 2007/08 if a 15-year long stop had been in place.
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ABI produces gender tables
26 Jun 2008
The Association of British Insurers has published gender data tables to allow insurers to continue taking gender into account when pricing insurance policies.
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ABI sounds warning on B&B rights issue and TPG proposals
26 Jun 2008
The Association of British Insurers has warned there are “breaches of sound governance” in the proposals for Bradford & Bingley's rights issue and sale of a major stake to Texas Pacific Group.
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'Absolute beginners must prove their credentials'
26 Jun 2008
BlackRock managing director Alex Hoctor-Duncan is warning of potential "roadkill" in the absolute return sector due to the number of funds coming to market.
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Accord to limit proc fees on product transfer business
25 Jun 2008
Accord Mortgages is to stop paying procuration fees to brokers for existing credit repair customers that have not improved to prime status by the time they remortgage.
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Adviser Fund IndexAmerican accent
26 Jun 2008
Panellists' preference for American over British equities was most noticeable in the Balanced index, during the May Adviser Fund Index rebalancing.
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'Age of accidental misselling is over'
26 Jun 2008
The era of accidental misselling is over, says Tenet Group distribution and development director Keith Richards.
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Alliance Trust Asset Management appoints business development director
1 Jul 2008
Alliance Trust Asset Management has announced the appointment of Benedict Lawson as director of business development.
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AMI warns brokers over investment sales
26 Jun 2008
The Association of Mortgage Intermediaries says mortgage brokers must be careful of conflicts of interest when selling investment products.
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APCIMS warns pressure for a single EU regulator must be resisted
30 Jun 2008
The Association of Private Client Investment Managers and Stockbrokers has warned the French Government against pushing for a single European regulator.
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Arc Capital & Income - Stepped Kick-Out Plan 5
26 Jun 2008
Arc Capital & IncomeStepped Kick-Out Plan 5
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Asia set to survive slowdown
26 Jun 2008
Fidelity International Asia CIO Kathryn Matthews believes growth in the region will stay remain strong despite an economic slowdown.
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Axa unveils new developments on Elevate platform
30 Jun 2008
Axa has revealed it is developing unbundled pricing, a pensions wrapper and securities trading on its Elevate platform.
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B&B response: Resolution planned to seize control
27 Jun 2008
Bradford & Bingley says it denied Resolution access to its books because its bid appeared to be an attempt to take control of the bank.
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Barclays unveils £4.5bn share issue
25 Jun 2008
Barclays has unveiled a £4.5bn share issue including nearly £2bn of new investment from Qatar’s sovereign wealth fund.
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Barclays Wealth - Emerging Markets Optimiser
25 Jun 2008
Barclays WealthEmerging Markets Optimiser
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Battling duo take watchdog fee case to the House of Lords
26 Jun 2008
An IFA couple who lost a landmark ruling on Financial Ombudsman Service fees in the Court of Appeal this month are to take their case to the House of Lords.
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BBA sees approvals fall to record low
26 Jun 2008
The British Bankers' Association says the 27,968 house purchase approvals in May were the lowest ever recorded by the association. The figure was 6,784 down on April.
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Bean becomes bank deputy in stability focus
26 Jun 2008
Charles Bean has been appointed deputy governor of the Bank of England for monetary stability.
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Beware the buzz
26 Jun 2008
Multi-asset is one of the new buzz words in the industry. Is it another marketing wheeze or do the funds represent a real solution to replace with-profits funds in client portfolios?
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Bloxham and Elite take the global way to income
25 Jun 2008
The wealth management arm of Irish stockbroking firm Bloxham has teamed up with the Way Group’s Elite Fund Administration to offer a global equity income fund to the UK IFA market.
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Bloxham Wealth - Elite Bloxham Global Equity Income Fund
27 Jun 2008
Bloxham WealthElite Bloxham Global Equity Income Fund
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BuildLoan - Skipton Three Year Base Rate Tracker
25 Jun 2008
BuildLoanSkipton Three Year Base Rate Tracker
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BuildLoan - TMB Self Cert Lifetime Tracker
25 Jun 2008
BuildLoanTMB Self Cert Lifetime Tracker
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C Hoare & Co appoints Cofunds Institutional as fund administrators
26 Jun 2008
Cofunds Institutional has been appointed administrator for the investment funds held in C Hoare & Co’s client portfolios.
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C&G appoints new intermediary sales director
1 Jul 2008
Cheltenham & Gloucester has appointed Jon Farley as its new intermediary sales director.
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CF gears up for growing IFA interest
26 Jun 2008
Multi-manager City Financial has upgraded its website to handle increasing IFA interest following the acquisition of two funds of funds from Neptune last October.
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Chancellor proposes increase in savers' protection to £50,000
1 Jul 2008
The Chancellor has put forward proposals for an increase in the compensation limit for savers with money in a failed bank from £35,000 to £50,000.
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Clive Briault given more than £500,000 in compensation after leaving FSA
30 Jun 2008
Ex-FSA retail markets managing director Clive Briault received £528,952 in compensation for loss of office after he stepped down from his role following the Northern Rock debacle.
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CML rebuffs Darling's attack on arrangement fees
25 Jun 2008
The Council of Mortgage Lenders has rebuffed the chancellor’s criticisms of high mortgage arrangement fees.
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Cofunds confirms Skandia's Brett Williams to join as chief executive
1 Jul 2008
Cofunds has confirmed that Skandia's Brett Williams is to join as chief executive officer by the end of the year.
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Cracking the Crunch, By Adrian Coles, director general of the BSA
27 Jun 2008
The credit crunch has gone from being an overnight crisis to daily reality, and the newspapers are full of commentators offering advice on how the current situation can be resolved.
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Disappointing impact from Special Liquidity Scheme, says Ward
1 Jul 2008
New Star chief economist Simon Ward says UK interbank data is pointing to a disappointing impact from the Bank of England’s Special Liquidity Scheme.
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DWP to allow protected rights to be invested in Sipps
27 Jun 2008
The Department for Work and Pensions has confirmed that protected rights funds will be eligible to be invested in Sipps from October.
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Euro income a matter for Integrity
25 Jun 2008
Investment boutique Integrity fund Managers has established what it believes is the first European income fund of funds available to the UK market.
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Fidelity's flagship ready to fly again
26 Jun 2008
Fidelity head of IFA channel Peter Hicks believes the firm has now made all the changes needed to rejuvenate its flagship UK range.
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Financial services profitability crashing, says PwC
30 Jun 2008
Profitability in the UK financial services industry has declined at a record pace and business volumes have fallen at the fastest rate in 17 years, according to PricewaterhouseCoopers.
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Franklin Templeton - Templeton Strategic Bond Fund
1 Jul 2008
Franklin TempletonTempleton Strategic Bond Fund
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Fraud high in finance and insurance sectors, says BDO Stoy Hayward
30 Jun 2008
Fraud cost UK businesses over £705m in the last six months, up 74 per cent from the same time last year, according to BDO Stoy Hayward.
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Friends' Bray to join Zurich
26 Jun 2008
Friends Provident underwriting strategy manager Nicolette Bray is leaving to join Zurich.
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Friends Provident holds notice period in place on property funds
27 Jun 2008
Friends Provident is to continue with the notice period on property fund redemptions despite clearing the queue of those waiting to leave.
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FSA bankrupts “boiler room” boss
26 Jun 2008
The FSA has obtained a bankruptcy order against two unauthorised UK-based companies that helped boiler rooms sell £3.7m in illegal shares to investors.
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FSA fines IT technician for market abuse
1 Jul 2008
The FSA has fined IT technician John Shevlin £85,000 for market abuse, after he traded in The Body Shop International shares off the back of inside information.
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Fund managers refuse to reveal voting records
27 Jun 2008
Nearly half of investment fund managers refuse to reveal their AGM voting according to the TUC sixth annual survey.
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Growth is green for Zurich
25 Jun 2008
ZurichGreen Guaranteed Account
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Half of the UK not saving, says Scottish Widows
30 Jun 2008
Only 51 per cent of Britons who could be preparing financially for retirement are saving adequately, according to the Scottish Widows Pensions Report.
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Hornbuckle Mitchell sale could raise £40m
26 Jun 2008
Sipp provider Hornbuckle Mitchell has put itself up for sale and appointed Ernst & Young to deal with offers from potential buyers.
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House prices fall by 0.9% in June, says Nationwide
1 Jul 2008
House prices fell by 0.9 per cent in June, taking prices 6.3 per cent lower than the same time last year, according to Nationwide's house price survey.
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HSBC ups fee on rate matcher deal by more than 50%
27 Jun 2008
HSBC has increased the arrangement fees for its rate matcher mortgage deals by more than 50 per cent.
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IFAs have 'ethical mission' to savers
26 Jun 2008
The pension savings gap presents a huge opportunity for IFAs to re-educate consumers on how much they need to save for retirement, says former Tory minister Michael Portillo.
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Inflationary woes
25 Jun 2008
It seems investors should be readying themselves for a “backs against the wall job” after Bank of England governor Mervyn King wrote his second letter in just over a year to Chancellor Alistair Darling.
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Insurers avoid a gender blow
25 Jun 2008
Some insurers have been disgruntled with their trade body lately but I would expect the majority to be singing its praises this week, or at least be mildly impressed.
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Integrity Fund Managers - Elite Integrity European Income Fund
27 Jun 2008
Integrity Fund ManagersElite Integrity European Income Fund
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Intelligent Pensions warns FSA to keep a close eye on third way
1 Jul 2008
Intelligent Pensions has warned the Financial Services Authority needs to keep a close eye on how third way products are being recommended.
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Intrinsic axes Mint staff
26 Jun 2008
Intrinsic has made almost half of Mint's back-office staff redundant, Money Marketing understands.
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Investec Asset Management - Enhanced Natural Resources Fund
25 Jun 2008
Investec Asset ManagementEnhanced Natural Resources Fund
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Investec explores frontier markets
25 Jun 2008
Investec Asset ManagementAfrica & Middle East Fund
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Investec gains as lenders quit HNW sector
26 Jun 2008
Investec Private Bank has increased its mortgage lending by 45 per cent in the last year despite the credit crunch.
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Investors missing out on emerging markets growth, says Fidelity
1 Jul 2008
UK investors are potentially missing out on economic growth because they have not allocated enough of their assets to emerging markets, says Fidelity International.
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John Charcol cuts 69 jobs as directors pump in more cash
30 Jun 2008
John Charcol has confirmed that chief executive Ian Kennedy has left the firm, as the mortgage broker announces 69 job cuts.
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Keydata aims to clear up structured product fears
26 Jun 2008
Keydata is setting up a lobbying committee to educate IFAs about the benefits of structured products.
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Kilminster loses £190k court case
26 Jun 2008
A former client of Kilminster Financial Management has won £190,000 in a court case against the network for neglect of his occupational pension scheme.
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Leadpoint launches protection leads
1 Jul 2008
Leadpoint has today launched protection leads.
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Leaviss believes deflation is threat
26 Jun 2008
Consumers are in for a nightmare ride this year before interest rates settle down in 2009, says M&G Investments head of fixed income Jim Leaviss.
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Legg Mason Investments - Batterymarch Emerging Markets Equity Fund
26 Jun 2008
Legg Mason InvestmentsBatterymarch Emerging Markets Equity Fund
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Lenders reprice mortgage ranges
26 Jun 2008
Bristol & West and Bank of Ireland both withdrew their entire mortgage ranges this week and replaced them with higher rates.
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Loaded plate
26 Jun 2008
What with the inflation figures, the Bank of England governor's letter to the Chancellor and the Mansion House dinner, last week packed a lot in. Inflation has further to go, according to Mervyn King. Incomes will be squeezed and an economic slowdown is inevitable. As to whether interest rates will need to rise, it is still too early to be certain.
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Matrix Group - Conservative Approach Strategy Closed End
1 Jul 2008
Matrix GroupConservative Approach Strategy Closed End
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Matrix opens closed ended CAS fund of hedge funds
26 Jun 2008
Matrix Group has established a closed ended version of its conservative approach strategy fund of hedge funds.
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McAteer challenges insurers to support a dignified old age
26 Jun 2008
Consumer advocate Mick McAteer is challenging the industry to join with third-sector organisations to develop alternative solutions to support elderly people who are not commercially viable for mainstream providers.
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Means-test fear over pension ban
26 Jun 2008
Government plans to ban firms from encouraging or forcing staff to opt out of personal accounts could compromise well-intentioned employers concerned over meantesting.
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MGM Advantage enhances annuities team
30 Jun 2008
MGM Advantage, the recently re-branded retirement income specialist is expanding its designs for retirement team.
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Mike Izzard
26 Jun 2008
The new chairman of the Association of Medical Insurance Intermediaries is aiming to create alliances to present a united front in a bid o set the agenda and formulate policy.
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Mortgage approvals continue downward trend
30 Jun 2008
Mortgage approvals continued to slow in May with a fall of 28 per cent from the previous month.
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NDFA - Accelerated Growth Plan June 08
25 Jun 2008
NDFAAccelerated Growth Plan June 08
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Newton's rules
26 Jun 2008
I am sure you do not need me to tell you that the UK equity market is having a tough time at the moment.
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Old Broad Street Research makes raft of ratings changes
26 Jun 2008
Old Broad Street Research has suspended the ratings of the Invesco Perpetual UK growth and UK aggressive funds following the announcement that fund manager Ed Burke is to retire.
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OPM takes defensive position in property
26 Jun 2008
OPM Fund Management has added a long and short European property fund to its multi-manager property portfolio to generate returns from this part of the market in difficult conditions.
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Paradigm claims wave of signings
26 Jun 2008
Paradigm has signed 117 ex-Bankhall IFA firms in the last 12 months, according to partner Tony Murrell, but these figures are disputed by Bankhall.
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Partner with the same ethos
26 Jun 2008
At the turn of the millennium, thoughts of past business success were eclipsed by thoughts on the construction and future shape of the business.Our back-office system Swift provided basic policy summary of client assets, had no daily unit feed and required costly manual intervention to create valua
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Pay is the way to halting inflation
26 Jun 2008
PSigma income manager Bill Mott believes UK inflation problems are likely to be temporary if wage rises are kept under control.
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Premier Asset Management - UK Growth Plan - Limited Editions No 39
1 Jul 2008
Premier Asset ManagementUK Growth Plan - Limited Editions No 39
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Prestbury suspended from Aim for late publication of results
27 Jun 2008
Prestbury has suspended trading on Aim as it is late publishing its annual results.
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Private equity chief to head HMRC
26 Jun 2008
HM Revenue & Customs has unveiled Mike Clasper as its new chairman. He was formerly operational managing director at private equity group Terra Firma Capital Partners.
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Pru is latest provider to consider postcode annuities
26 Jun 2008
Prudential is expected to introduce postcode pricing on its annuities by the end of the year.
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Pru scraps reattribution plans
27 Jun 2008
Prudential has decided not to proceed with the reattribution of its £8.7bn inherited estate.
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RBS Intermediary Partners - RBS Five-Year Fixed
25 Jun 2008
RBS Intermediary PartnersRBS Five-Year Fixed
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Red letter day
26 Jun 2008
Last week, Bank of England governor Mervyn King wrote his second letter in just over a year to Chancellor Alistair Darling after inflation broke through the 3 per cent barrier. King cited the rising prices of food and energy for the increase and warned that troubled times lie ahead.
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Regulator's cover tables exclude income protection
26 Jun 2008
The Income Protection Task Force has criticised the FSA for not featuring income protection in its payment protection insurance comparison tables.
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Resolution bid to see B&B's books wins UK Shareholders Association support
26 Jun 2008
Resolution’s request to access Bradford & Bingley’s books has been given the backing of the UK Shareholders Association and 40 per cent of the bank’s institutional shareholders, the firm claims.
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Resolution denied access to B&B books
26 Jun 2008
Resolution has revealed that Bradford & Bingley has denied it access to its books to conduct due diligence.
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Resolution pulls out of B&B bid
27 Jun 2008
Resolution has pulled out of its proposals to acquire a stake in Bradford & Bingley due to the "entrenched" position of the board.
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Resolution renews efforts to woo B&B board
25 Jun 2008
Resolution is understood to have made renewed efforts to convince the Bradford & Bingley board to back its bid.
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Resolution's B&B bid aims to lead to £2bn lenders' consolidation
26 Jun 2008
Resolution chief executive Clive Cowdery has made a £400m bid for Bradford & Bingley as part of a plan to consolidate several smaller lenders.
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RWC Partners appoints two new managers to launch Asia fund
25 Jun 2008
Asset manager RWC Partners is appointing Carmel Peters and Kirsty McLaren to launch its new Asian fund.
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S&P's downgrades Friends Provident
27 Jun 2008
Standard & Poor’s has downgraded Friends Provident citing concerns over its concentration in difficult market sectors.
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SJP finance director moves to Nucleus
26 Jun 2008
Nucleus has appointed St James's Place finance development director Neil Howitt as finance director. Howitt is a qualified actuary.
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Skandia adapts best ideas for alternatives
1 Jul 2008
Skandia Investment ManagementAlternative Investments Fund
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Skandia adds new Fulcrum fund to spectrum range
26 Jun 2008
Skandia is adding the Fulcrum alternative beta plus fund as an underlying asset to its spectrum funds.
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Skandia axes Selestia branding
30 Jun 2008
Skandia is axing the Selestia brand and developing its platform into a full wealth management wrap under the name Skandia Investment Solutions.
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Skandia picks 10 for alternatives
26 Jun 2008
Skandia Investment Group has revealed the list of 10 managers for its alternatives multi-manager fund.
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Skandia takes alternative view
1 Jul 2008
Skandia has introduced a fund of funds that invests entirely in a range of alternative asset classes.
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SLI appoints life industry expert as non-executive director
30 Jun 2008
Standard Life International is appointing Colm Fagan as a non-executive director to its board from 16 June 2008.
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Solomon calls for savings at the check-out
26 Jun 2008
Zurich business development director Tony Solomon believes that supermarkets could play a greater role in getting financial services products to lower-net-worth individuals.
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Sovereign offers Wills at half price
25 Jun 2008
Sovereign Will and Probate Services will be offering Wills at half price for the month of July.
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Strike up the nil-rate band
26 Jun 2008
For many married couples and civil partners, the inheritance tax reforms announced by the Chancellor in the pre-Budget report and included in the Finance Bill 2008 might suggest a return to much simpler estate planning.
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Structure problems
26 Jun 2008
The Association of Mortgage Intermediaries has warned mortgage brokers that there may be issues with them selling structured products which could lead to conflicts of interest.
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Swip duo win OBSR ratings
26 Jun 2008
Old Broad Street Research has awarded A ratings to the Swip multi-manager diversity and multi-manager select boutiques funds. Both funds are run by Mark Harries and Simon Wood. OBSR is withdrawing the A rating of the Insight Investment UK dynamic managed fund.
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Tax turmoil turns away foreign cash
26 Jun 2008
Axa Group chief executive Henri de Castries has hit out at the UK Government for creating huge instability in the tax system which he believes is scaring off foreign investment in financial services.
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Temping fate
26 Jun 2008
With businesses becoming ever more demand-ing in terms of flexibility to cope with an increasingly competitive market, many employers have looked to agencies to supply them with workers to cover periods of absence, short-term projects or for any other reason where flexibility is needed.
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Templeton bond fund goes for flexibility
1 Jul 2008
The Templeton global total return bond fund is one of two bond funds recently launched by Franklin Templeton Investments.
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That shrinking feeling
26 Jun 2008
New Star chief economist Simon Ward says Northern Rock's eagerness to repay its £26.9bn Bank of England loan is exacerbating the mortgage market squeeze.
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Times aren’t tough for FSA execs
30 Jun 2008
The FSA has given us plenty of food for thought today as it released both its Annual Report and its TCF update.
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TMB boss appointed as new head of BM Solutions
1 Jul 2008
The Mortgage Business managing director Nigel Payne has had his role extended to managing director of BM Solutions.
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Torry hands over SocGen tech fund
26 Jun 2008
Alan Torry is leaving SocGen after 10 years. He will pass his 53m technology fund to Hugh Grieves, who has been co-manager since October 2000.
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Unbiased.co.uk develops IFA search facility for pension scheme partners
27 Jun 2008
Unbiased.co.uk has built a white label service for corporate pension scheme members to find suitable IFAs to do business with.
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Vellani takes risk role at Polar Capital
26 Jun 2008
Polar Capital Holdings has appointed Karim Vellani as chief risk officer. He joins from Credit Suisse where he was head of risk management for the global property trading business.
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'Web is future of distribution'
26 Jun 2008
Product providers must develop a web-based multi-channel distribution model to capitalise on direct online sales as relationships with advisers become increasingly unstable, says 1st The Exchange.
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Whitechurch bids to build membership with fee deal
26 Jun 2008
Whitechurch is offering gross commission payments to new network members for the first three months.
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Yerbury stepping down as Invesco chief exec
26 Jun 2008
Bob Yerbury is to step down as chief executive of Invesco Perpetual in September.
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Yield shield
26 Jun 2008
During this difficult trading period, there has been debate about the state of the buyto-let sector. Several experts have suggested that the buy-to-let bubble would finally burst this year after a decade of rapid house price growth and good rental returns while others say now is a good time for investors to increase their portfolio. Sally Laker is managing director of Mortgage Intelligence
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Zurich - Green Guaranteed Account
1 Jul 2008
ZurichGreen Guaranteed Account
