27 June 2007
Advisers say the FSA’s proposals will lead to a shake up of the industry.
Ethical funds have been around for over 20 years but in the last few years green investing, once the dominion of eccentrics or those with a religious bent, has been heating up faster than the Earth, with many major investment houses launching their own ethical funds.
Acorn Capital Partners/EurocapeEurocape II Property Finance
Aegon Scottish Equitable has welcomed the FSA’s RDR proposals saying they should boost the professionalism of advisers and give more people access to affordable advice.
HSBC's OpenFunds global return fund has invested in a specialist African fund, spotting a low correlation with developed markets and other emerging markets.
Association of Independent Financial Advisers director general Chris Cummings has attacked the FSA’s use of the ‘Independent’ label in today’s RDR discussion paper.
Prime Minister Gordon Brown has appointed Alistair Darling as Chancellor in a major reshuffle of his Cabinet which also sees work & pensions secretary John Hutton replaced by Peter Hain and pensions minister James Purnell moved to culture.
Axa Framlington has re-opened George Luckraft’s £1.1bn equity income fund two years after soft-closing the portfolio to new investments.
The two founders of Argonaut Capital have exceeded their own expectations massively by breaking through the £1bn barrier just two years after setting up their pioneering boutique business and moving into the Europe sector. Interview by Chris Salih.
There are many myths that are perpetrated in the financial services world and one that has been around longer than many is that clients are in the main not interested in socially responsible investment funds - so-called ethical investments.
Kate Baier looks at how firms might change their charging structures.
Close InvestmentsClose Imperial Pub Company 2
Cofunds held its second-quarterly Platform conference, with bond funds as a well-timed topic. Indeed, bonds and interest rates were very much a feature of the week, with minutes of the Bank of England's Monetary Policy Committee disclosing that a further rate rise was only just avoided.
A leading independent compliance consultant who has advised hundreds of IFA businesses has answered seventy questions posed by the regulator in its discussion paper on the retail distribution review.
After spending an enjoyable two weeks off on holiday in Japan, I was thrown into the deep end with the publication of the FSA’s Retail Distribution Review discussion paper this Wednesday.
DB MortgagesSuper Light Two Year Fixed Self-Cert
Dominion Fund ManagementDominion Chic Fund
Eclectica Asset Management has established the CF Eclectica Agricultural fund, an Oeic that aims for growth by investing in a global portfolio of companies that are involved in or related to agriculture and farming.
In my last article, I began to examine the principles of pensionsharing orders in divorce settlements, paying particular attention to the ways in which financial advisers can be of immense practical and financial help to divorcing clients, their lawyers and, in passing, the financial adviser firm itself.
Fidelity International has criticised the FSAs retail distribution review saying it will lead to further customer confusion and could dilute the label of independent' advice.
Chief executive claims his advisers are 'entrenched in fees' after challenge by Nick Bamford.
The FSA has admitted plans to shake up financial advice will result in less people getting access to full financial advice as it considers using capital adequacy to impose change in the market.
FSA chairman Callum McCarthy believes the regulator must take its portion of blame for failing to solve a number of issues in the market that have ultimately led to them publishind the RDR discussion paper.
The FSA says IFAs may face conflicts of interest if they sign up to wrap platforms that offer share incentive schemes.
The Financial Services Consumer Panel has applauded the contents of the RDR but says the FSA may still need to step in and put an end to commission.
Godiva MortgagesBuy To Let Flexx
Samantha Downes reports on how HBOS aims to recover after losing half its share of the lending market.
Henderson RoweElite Henderson Rowe Dogs of The FTSE 100 Fund
Pointon's stark warning - 'We could be looking at the seeds of a disaster'.
HSBC Investments InternationalFoundation European Growth Fund
HSBC Investments InternationalFoundation UK Growth Fund
Secretary of state for work & pensions John Hutton is expected to be replaced by former Northern Ireland secretary Peter Hain in Prime Minister Gordon Brown's new cabinet.
The retention of fund-based commission in the possible models of adviser remuneration is to be welcomed as many advisers struggle to move clients onto a fee paying basis, says Arch Financial Planning managing director Arthur Childs.
The Investment Management Association says the FSA’s proposals in the retail distribution review could over simplify the advice process and could increase the risk of misselling.
Investec Asset ManagementEmerging Markets Debt Fund
Could tontines be the answer to retirement funding? Chris Salih reports.
JPMorgan Asset Management is reshaping the pricing structure of its entire Oeic range by setting blanket total expense ratios at 18 basis points across its entire fund range.
Keydata Investment ServicesDynamic Growth Plan 17
At its annual conference last week, the Chartered Institute of Housing claimed that tax relief on buy-to-let mortgages is contributing to the problems faced by first-time buyers and called on the Government to close what it called the loophole that allows BTL landlords to offset the costs of running a rental property, such as service charges, repairs and letting agent fees, as well as mortgage interest. This is also a common theme in letters to the press from frustrated would-be first-time ...
Simon Hildrey says the choice of ethical funds has almost doubled within three years as investors become switched on to environmental issues. Despite some decent performance, however, it is clear there is still a certain price to pay for investors to salve their conscience.
Meteor Asset Management has brought out a euro-denominated version of its prima growth plan, a guaranteed equity bond that has an early maturity feature.
Moneysupermarket.com Group has announced its intention to float and is to proceed with an initial public offering of its ordinary shares.
Hargreaves Lansdown chief executive Peter Hargreaves figures out how the life company gravy train could come off the rails.
MPC Investors has appointed two equity analysts in the shape of Steven Robertson and Eng Li Yap to assist Ajay Ghambir in the launch of his new MPC Samsara hedge fund.
Neptune's multi-manager subsidiary North Investment Partners has completed the transformation of City Financial's UK select alpha fund into a fund of funds by selling all the individual equities that remained in the portfolio.
Norwich Union says all of its customers’ with-profits policies will be market value reduction free from July 1.
Old Mutual Asset Managers (UK) has grown its fixed income team with the addition of Richard Stevens.
Protection providers need to win trust by publishing claim figures.
OPM Fund ManagementCF OPM Property Fund
Miton Optimal is holding more than a quarter of its strategic and special situations portfolios in cash as capital preservation has taken priority.
Roderic Rennison who chaired the professionalism working group within the Retail Distribution Review says he believes the new category of General Financial Adviser should be a permanent fixture.
Amanda Bowe the head of the retail distribution review has written back to the Editor of Money Marketing in response to three letters he wrote to her in the run up to the publication of the retail distribution review.
Advisers could be allowed to carry their qualifications over to the new role of professional financial planner proposed in the RDR if they are directly equivalent.
The RDR has fallen short with the FSA yet again failing to define advice levels, says NeedAnAdviser.com director Ashley Clark.
Bernard Footit, technical support manager for pensions at Canada Life, details some of the alternatives to buying an annuity.
The Royal Institution of Chartered Surveyors could be forced to call an EGM over its decision to launch a judicial review against the government over Hips, after nearly 150 members have signed a petition calling for the immediate launch of Hips.
Research studies suggest that 90 per cent of performance is driven by asset allocation so why agonise over individual fund selection? Matthew Williams explains his company's strategy.
Rowanmoor Pensions director of consultancy David Seaton has branded the Retail Distribution Review a “disaster for the general public” despite the fact that the FSA has recognised the importance of factory gate pricing for the IFA community.
Clare Bettelley covers the wide green spectrum of ethical investment with clients taking positive or negative views to include firms focusing on improving the environment or excluding businesses dealing in areas such as gambling, tobacco, alcohol or armaments.
The independence of an adviser is not affected by commission as the method of adviser remuneration is irrelevant if the quality of advice is good enough, according to Skandia.
I have a couple of with-profits bonds taken out in 1999. I have read a lot about these in the financial press and guidance on the FSA website. What should I do with these investments?
Societe Generale Asset ManagementSGAM Core Plus Sterling Bond Fund
Societe Generale Asset ManagementSGAM Total Return Bond Fund
Macquarie Bank GroupCF Macquarie Global Infrastructure Securities Fund
Establishing where trust funds have come from could save significant amounts of inheritance tax.
Personal accounts could see the poorest people losing out.
Protection gap widens as IP sales fall and tax relief axed on pension term.
Swiss Re could have revealed dazzling news in the realm of shrinking protection gaps, booming income protection sales and critical illness policies being sold left right and centre, in its annual Term and Health Watch report released last week.
Independent advisers must fight FGP or leave the wider market fast.
The Mortgage WorksFive-Year Fixed 100% Mortgage
The Mortgage WorksThree-Year Fixed 100% Mortgage
In the months preceding the adoption of Ucits III in 2002, some investors were anticipating a wave of new vehicles brandishing their newly acquired investment capabilities.
Threadneedle has unveiled its new senior investment management team with the appointments of Dominic Rossi, William Frewen and Philip Best.
Will Hanley considers the growing uncertainty over the future for home information packs.
Outgoing FSA chief executive John Tiner says he wishes the FSA had stuck to its guns on depolarisation and separated out the cost of the product and the cost of the service.
Towry Law says it is 'unhappy' with the RDR proposals to expand the definition of what can be called a fee and says the new arrangements may not go far enough to “clean up” the current system.
UBS has launched the UBS US equity 130/30 fund, an Oeic aiming for growth and income by investing in US companies using long and short techniques.
So, we’re sure by now you are all sick to the back teeth of the RDR. Or are you? I know we had many a version of DP 07/1 and DP 07/2 kicking around the office last week, the phones were ringing off the hook and we spoke to, hopefully, either most of you or representatives on your behalf about the potential impact to your businesses.
Which? has welcomed the proposals laid out in the retail distribution review saying the current system is failing consumers but it says consumers will need properly informed of any changes.
By the time you get to read this commentary, the FSA's retail distribution review discussion paper should be on your desks.
How fundamental credit research paid off in a deal involving mortgage lender Kensington.
If a client won't switch to a good credit card deal, they won't read an IDD.