30 May 2007
Viagra may have been first developed as a drug for hypertension before its true usefulness became clear.
Advisers have hit out on the BBC’s Working Lunch programme about the effect on their businesses of the FSA’s two year menu and IDD debacle.
The decision to increase interest rates came as no surprise but what some commentators were predicting as a 0.5 per cent increase became a rather more gentle 0.25 per cent increase.It remains to be seen whether the MPC will increase rates again next month or whether it believes inflation is now under control but there are certainly commentators who believe that the future of interest rates still looks decidedly uncertain.
Aegon Asset Management has appointed Anne Harrison as the firm's new head of performance.
According to the latest data from the Office of National Statistics (Labour Market Analysis and Summary, November 2006) there are now four million self-employed people who account for 13 per cent of the total workforce. In addition, around one million people have a second job.
I refer to the letter written by Julie Lord and am sure that the vast majority of chartered financial planners will agree 100 per cent with her comments.
Tanya Powley assesses the impact of the two-month delay to Hips.
Bedlam Asset Management is launching an investment trust that will aim for growth, rising dividends and the preservation of capital by investing globally in 25 - 30 equities.
Gregor Watt surveys the sorry scene after Ruth Kelly was forced into an embarrassing U-turn to shelve the widely unpopular home information packs.
Julie Lord is quite wrong, I am afraid (Money Marketing, May 17). Chartered financial planner status for firms will not confuse the public any more than they would be confused by dealing with, for example, a chartered accountant firm.
Cheshire Building SocietyBuy To Let Two Year Fixed Rate
Cheshire Building SocietyBuy-To-Let Five Year Fixed Rate
Collins StewartUK Catalyst Fund
Investors looking to reap profits from commodities can utilise a variety of investment vehicles.
Banning an easy payment choice is not treating customers fairly.
The Financial Ombudsman Service could face a High Court battle over its right to hear complaints against advisers from many years ago.
Dalton Strategic PartnershipMelchior Pan-Asian Advantage Fund
Sesame head of protection research Dale Tranter, sets out the changes being made by product providers to their critical-illness insurance conditions as part of the ABI's new guidelines.
A further delay has hit the Parliamentary Ombudsman's investigation into the prudential regulation of Equitable Life and the watchdog says it cannot commit to a new publication date.
HSBC Investments has reopened its GIF Bric Freestyle fund to investors following its temporary closure last June to protect performance for existing shareholders.
Why the retail review must not ignore the elephants in the room.
The economic headlines have recently been filled with stories about inflation. The overshoot of the target band, when inflation reached 3.1 per cent in March, came at what might be regarded as an unfortunate time for the monetary policy committee - just when the economic commentators were writing articles about "10 years of the MPC".
F&C Asset ManagementLifestyle Balanced Fund
F&C Asset ManagementLifestyle Cautious Fund
F&C Asset ManagementLifestyle Defensive Fund
F&C Asset ManagementLifestyle Growth Fund
It may be time to consider less conventional approaches to equity income investing.
I write this blog with tears streaming down my cheeks. Why? I hear you ask. Well - 'tis because it's my last pensions blog for Money Marketing. Next Monday I move to write about pensions and investments for another paper and will be replaced by our lovely life and protection reporter Nicola York who, I have been repeatedly assured by various contacts, is much more attractive than me.
FidelityFidelity Retirement Fund 2015
FidelityFidelity Retirement Fund 2020
FidelityFidelity Retirement Fund 2025
FidelityFidelity Retirement Fund 2030
FidelityFidelity Retirement Fund 2035
FidelityFidelity Retirement Fund 2040
FidelityFidelity Retirement Income Fund
The FSA is to scrap the menu and initial disclosure document after concern from the European Commission that they would not be allowed as an add-on to Mifid.
FundsNetwork is to bolster its platform offering with addition of seven funds from the income, ethical and best ideas markets.
With the current focus on the environment and pick up in ethical investing, many investors could be forgiven for thinking that they are accessing green investment ideas through an ethical fund.
Retirement funding will be an increasingly nagging problem for future generations. Peter French, a partner at Troy French and Partners, explains how equity release might be harnessed to help solve income and inheritance tax issues.
A number of industry experts gathered at Money Marketing's offices last week for a hedge fund roundtable and as you would expect the discussion produced as many questions as it did answers.
HSBC's OpenFunds global return fund has diversified into private equity by taking a small holding in Pantheon International Participations, an investment trust that also takes a fund of funds' approach.
HSBC InternationalFoundation 1 - Resources Bonus Fund
The Financial Ombudsman Service is facing a judicial review of whether it is acting outside its powers when hearing complaints from some categories of advisers.
The founder of Sipp and wrap consultancy Wealthtime is one of the pioneers in the self-invested pension policy sector and here efforts have helped the Sipp market boom from a niche into a burgeoning and widespread business and she is also a great advocate for wrap platforms but believes many companies could see profitability problems ahead. Interview by Helen Pow.
The high-profile Phizackerley ruling on inheritance tax and will trusts has far-reaching implications for all trusts making loans to beneficiaries, warns Skandia.
JupiterNorth American Income Fund
Jupiter is looking to bolster the assets within its £34.8m green investment trust by proposing the introduction of up to 75 million c shares.
So troubled lender Kensington Group has finally been sold. After months of speculation - heightened last week after it confirmed it was in advanced takeover talks - the group announced on Wednesday that its surprise suitor is South African investment bank Investec.
Key Retirement Solutions has announced plans to further expand its adviser workforce with at least 50 new members over the next 12 months.
Legal & GeneralCapital Guaranteed Bond 2 - Six-Year Term
Legal & GeneralCapital Guaranteed Bond 2 - Three-Year Term
Legal & GeneralGroup Portfolio Plus Self-Invested Personal Pension
LV= has entered into talks to acquire retirement specialists Tomorrow, formerly GE Life, from Swiss Re and will co-brand products from July this year.
It was the long arm of Charlie McCreevy rather than the clunking fist of Gordon Brown that dominated the financial services news agenda this week after he forced the FSA’s hand over the menu and IDD.
It has been hard to open the financial press recently without finding the not so smiling features of Anthony Bolton staring out at you.
How the definition of full medical evidence swayed the diagnosis in the Smith and others case.
IFAs have expressed initial relief at the FSA’s decision to get rid of the menu but they are very worried about what may replace it.
Meteor Asset ManagementGalaxy Protected Commodities Plan
Morgan StanleyEmerging Markets Growth Plan
Mortgage ExpressTwo-Year Fixed Buy-To-Let
Cheviot Asset Management has made its fund debut with a multi-asset fund of funds.
New StarInternational Property Fund
Norwich UnionBalanced Fund of Funds
Norwich UnionCautious Fund of Funds
Norwich UnionGrowth Fund of Funds
With reference to the article headlined, Hargreaves Lansdown wants Omo as default (Money Marketing, May 17), I feel compelled to write in support of the proposal.
OPM Fund Management - formerly Smith & Pinching Portfolio Management, has set up a distribution link with Cofunds as part of its drive into the IFA market.
The Adviser Fund Index panellists displayed a lack of appetite for Japanese equities during the last rebalancing on May 1.
Pink Home LoansMortgage Express Self Cert 2 Year Fixed Rate
Premier Fund ManagersEuropean Growth Plan - Limited Editions No 35
A client has been warned that pensions are a waste of money but is property investment a viable alternative?
In protection this week, after being severely neglected by many providers and advisers for sometime, the business protection market is getting some attention.
Firm admits proposition not working and aims to mimic HBoS version after stiff criticism from brokers.
Capita Group has today signed a contract to become a strategic outsourcing partner of Resolution plc in a £580m deal.
As the biggest single lender in the mortgage market, Halifax has a significant influence in mortgage broking. Thankfully, the firm has signalled its intention to keep intermediaries at the heart of its business with plans for further investment in technology this year.
I think Neptune is one of the most under-rated groups in the marketplace right now. It may have been overlooked because it has launched so many funds in a short space of time and few of them are run by well known managers. This could give the impression of a company in too much of a hurry but I feel that would be doing it a disservice.
The Government claims to be confident of meeting its revised August 1 start date for Hips although this will now apply only to properties with at least four bedrooms.
Aegon Scottish Equitable has added an option to its group Sipp which enables members to self-invest without having to use an adviser.
Skandia UK has continued to reap the benefits of A-Day, posting a 20 per cent increase in first-quarter gross sales to £2.3bn from £1.9bn in the same period last year.
Skipton Building Society10 Year Fixed Rate
Skipton Building SocietySeven-Year Fixed Rate
Standard Life Investments has announced the appointment of Casper Trenchard as the new manager on the group's UK opportunities fund.
Chris Salih analyses the Resolution UK smaller companies fund.
South African investment bank Investec has been confirmed as the surprise bidder for Kensington Group.
Mortgage specialist Mark Harris talks to Gregor Watt about setting up Savills Private Finance, offering a one-stop loan solution and its national and international aspirations. He also gives his views on Hips and affordability.
And so it ends, not with a bang but a whimper. Last week, the FSA finally put its split-cap investment trust investigation to bed, agreeing minor slaps on the wrists for four key players involved in the debacle.
Advice produces the best results, with more protection sold for longer.
Standard Bank OffshoreStructured Growth Solutions - Global Portfolio Picker (Security Variant)
Sumus has acquired 50.1 per cent of share capital of Bristol-based IFA firm Deverill Black and Company for £750,000 and reported a 40 per cent profit increase.
The FSA has finally come out and admitted defeat, sounding the death knell for that onerous and, according to some advisers who have been in contact with Money Marketing, “pointless” document.
Following the Government's decision to postpone the introduction of home information packs, what effect do you think Hips will have if they are introduced to the market after August 1?
Equitable policyholders must work together to get more media coverage.
Nicole Blackmore looks at how trustees will run personal accounts and finds opinion divided on whether the Government is just trying to offload blame if things go wrong.
Having just ordered dog food, a trip to Spain, home contents insurance and a PS2 Singsong game on the internet, I then skipped through a report from the Interactive Media in Retail Group, an organisation that tracks internet sales.
Iimia has warned against "dangerous" momentum-driven investing, saying that multi-managers can be caught out by rapid changes in market sentiment.
Buy to let has surged in the last decade but rising interest rates and inflation could be putting the squeeze on landlords. Samantha Downes gauges opinion on whether the market's success will continue.
The Building Societies Association has appointed Yorkshire Building Society chief executive Iain Cornish as its chairman for 2007/08.
Zurich Assurance has signed an agreement to transfer £3.7bn of its UK annuity business to Swiss Re.