Money Marketing
6 May 2009

  • JPMorgan Asset Management goes anywhere in bond market

    12 May 2009

    JPMorgan Asset Management has introduced its strategic bond fund, a global best ideas fund that can invest anywhere in fixed income markets.

  • 3i announces £47m Bestinvest writedown

    8 May 2009

    Private equity firm 3i has revealed a £47m writedown on its Bestinvest investment.

  • 45% of law firms considering outsourcing financial business, says Prince OMC

    8 May 2009

    Over 45 per cent of law firms are considering outsourcing the financial function within their business due to pressure, research from Prince OMC reveals.

  • 75% of IFAs sceptical of ‘green shoots recovery’

    6 May 2009

    Three quarters of IFAs says recent stock market gains represent no more than a bear market rally, according to a survey from 1st- The Exchange.

  • Abbey For Intermediaries - 2 Year Fixed Remortgage

    7 May 2009

    Abbey For Intermediaries2 Year Fixed Remortgage

  • Abbey For Intermediaries - 2 Year Fixed Remortgage

    11 May 2009

    Abbey For Intermediaries2 Year Fixed Remortgage

  • Abbey For Intermediaries -3 Year Fixed Rate

    12 May 2009

    Abbey For Intermediaries3 Year Fixed Rate

  • Aberdeen AM profits plunge

    7 May 2009

    Aberdeen Asset Management saw profits fall by 45 per cent in the six months to March 31 to £17.9m from £32.5m.

  • Adding complexity

    7 May 2009

    Noise about the retail distribution review seems to have subsided as other matters are beginning to shape the distribution of UK financial services.

  • Advertising Standards Authority investigates NatWest ads

    7 May 2009

    The Advertising Standards Authority has launched a formal investigation into NatWest's MoneySense adverts with a particular focus on its claims of impartiality.

  • Adviser Fund Index: America first

    7 May 2009

    Hopeful investors are starting to look for signs of green shoots in the American econ- omy and the rhetoric of recovery is being increasingly aired among politicians and some economists.

  • Advisers fearing service problems in Clerical rebrand

    7 May 2009

    Advisers have raised concerns that the merger of Scottish Widows and Clerical Medical sales teams could see service levels suffer.

  • Aegon holds back £90k on PosSol academy deal

    7 May 2009

    Aegon is withholding £90,000 in payment from Positive Solutions, claiming the network failed to deliver on a package of adviser initiatives agreed for 2008.

  • Aifa calls for "law of agency" under RDR

    8 May 2009

    The Association of Independent Financial Advisers is calling for the “law of agency” to apply under the retail distribution review, with regulatory dividends for advisers who act on behalf of their clients.

  • Aifa chairman John Gummer dragged into expenses row

    11 May 2009

    Aifa chaiman and Conservative MP John Gummer has been dragged into the expenses row for claiming £9,000 on gardening, the Telegraph reports.

  • AIG Life to pay out £100m to protected recovery fund investors

    11 May 2009

    AIG Life is paying out £100m, or just over 5 per cent, to investors in its protected recovery fund on June 6.

  • Alternatives to pensions

    7 May 2009

    Managing one's investments (incorporating appropriate asset allocation) to produce acceptable returns while managing risk takes absolute priority in portfolio planning. However, maximising the tax efficiency to minimise tax on investments can substantially add to the bottom line.

  • America loses 539,000 jobs in April

    8 May 2009

    America’s unemployment rate rose from 8.5% to 8.9% in April.

  • Analysis: European economic outlook

    6 May 2009

    The European Union economy is forecast to shrink by 4% this year, according to a report by the European Commission.

  • Analysis: The City’s future

    8 May 2009

    A group of British-based financial services leaders attempted today to “draw a line in the sand” under the industry’s recent woes, saying in a Treasury-commissioned report that the country would remain globally competitive in the field.

  • Analysis: US banks under stress

    8 May 2009

    Ten of America’s 19 largest financial institutions might be required to raise a total of $74.6 billion (£49.5 billion) in capital, according to the official American “stress tests”.

  • Annuity fears at Equality Bill age rate ban

    7 May 2009

    Insurers have raised concerns that the Government's new Equalities Bill may curb how they are allowed to price annuities and life insurance and potentially push up costs.

  • Apollo puts Faif in Athena

    7 May 2009

    Apollo Multi-Asset Management will unveil an aggressive offshore multi-asset fund in June to prepare for the creation of funds of alternative investment funds in the UK.

  • Apollo strikes gold with ETF

    11 May 2009

    Apollo Multi-Asset Management believes that exchange traded funds provide the best way for multi-managers to gain exposure to gold.

  • Apprentice plan to bring in advisers

    7 May 2009

    Tenet and the Financial Services Skills Council are launching two apprenticeship programmes for mortgage and investment advisers to help bring new blood into the industry.

  • Approval for ifs diploma to meet QCF standards

    8 May 2009

    The ifs School of Finance says Ofqual has formally approved amendments to its level four diploma for financial advisers, designed to meet QCF level 4 requirements.

  • Arc Capital & Income - Bricks & Mortar Plan 4

    7 May 2009

    Arc Capital & IncomeBricks & Mortar Plan 4

  • Arch looks to bolster transparency of cru Guernsey cells

    6 May 2009

    Arch Financial Products has announced that it plans disclose the "significant holdings" for each of cru Guernsey cells in its monthly reports going forwards.

  • Artemis Fund Managers - Strategic Assets Fund

    8 May 2009

    Artemis Fund ManagersStrategic Assets Fund

  • Artemis launches first fund in four years

    11 May 2009

    Artemis has introduced a multi-asset fund which boasts the widest investment remit within its unit trust range.

  • Ashburton’s Childs says UK onshore option is key to growth

    6 May 2009

    Jersey-based asset manager Ashburton’s Philip Childs says an onshore fund offering is key for the firm to make its mark on the UK retail market.

  • Aviva appoints Rexam CEO to board

    6 May 2009

    Aviva has appointed Rexam chief executive Leslie Van de Walle as an independent non-executive director.

  • Aviva reaches with profits agreement

    6 May 2009

    Aviva Investors has come to an agreement over a reattribution offer for its with-profits fund policyholders.

  • Aviva renegotiates inherited estate offer

    6 May 2009

    Aviva has renegotiated the reattribution deal for its inherited estate after backtracking on a previous £1bn offer earlier this year due to a drop in the value of investments.

  • Aviva reveals direct plans in anticipation of IFA cull

    8 May 2009

    Aviva has revealed plans to grow an in-house distribution channel to sell products direct to consumers as it anticipates adviser numbers will be cut in half due to the retail distribution review.

  • AWD urges adviser review of insurance bonds for IHT planning

    7 May 2009

    Advisers must reassess the benefits of using insurance bonds for IHT planning, says AWD Chase de Vere.

  • Axa launches pooled Sipp

    8 May 2009

    Axa has launched a pooled Sipp aimed at offering a tax efficient way for families or business partners to invest together.

  • Back our Omo push

    7 May 2009

    Living Time has called on the most active and influential IFA firms to lend their weight to the Omo - Offer More Options campaign that seeks to introduce fresh thinking to the £14bn retirement income market.

  • Bailey promoted at Axa

    6 May 2009

    Rob Bailey, the head of UK retail sales at Axa Investment Managers (Axa IM), has been promoted to head of sales, UK.

  • Bank announces more quant easing

    7 May 2009

    The Bank of England’s monetary policy committee (MPC) today announced it will increase the size of its asset purchase facility by £50 billion to £125 billion.

  • Bank holds rate at 0.5% and increases quantitative easing by £50bn

    7 May 2009

    The Bank of England's Monetary Policy Committee has frozen the base rate at 0.5 per cent and boosted its quantitative easing programme by £50bn to £125bn.

  • Bank rally loses steam

    6 May 2009

    The FTSE 100 opened at 4,338 this morning with gains from the previous session slipping as financial stocks lost some ground in early trades.

  • 'Banks made astonishing mess of system,' say MPs

    7 May 2009

    Banks have been the principal authors of their own demise, according to a damning report from the Treasury select committee released last week.

  • Banks rally after stress tests

    8 May 2009

    The FTSE 100 opened higher at 4,414 with banks pushing ahead following the results of the US stress tests.

  • Barclays creates own benchmark, rejects complaint

    7 May 2009

    Barclays has admitted creating a “hypothetical fund” to calculate the benchmark it used to reject a client’s claim for compensation after being misadvised to invest in Aviva’s global balanced income fund.

  • Barclays Global Investors - iShares Barclays Euro Government Bond 10-15 Years

    7 May 2009

    Barclays Global InvestorsiShares Barlcays Euro Government Bond 10-15 Years

  • Barclays Global Investors - iShares Barclays Euro Treasury Bond

    7 May 2009

    Barclays Global InvestorsiShares Barclays Euro Treasury Bond

  • Barclays has more questions to answer

    12 May 2009

    Barclays will have to think again if it believes its extremely limited mea culpa over the advice given around investing in Aviva’s global balanced income fund has put an end to the matter.

  • Barclays pre-tax profits up 15 per cent

    7 May 2009

    Barclays has posted pre-tax profits of £1.37bn in the first quarter, up 15 per cent from £1.19bn from the same period last year.

  • Barclays Wealth reissues FTSE plans with lock-in feature

    8 May 2009

    Barclays Wealth is reissuing its minimum return plan and protected FTSE plan with a new feature to lock in returns for cautious investors.

  • Barclays Wealth reissues Super Tracker

    6 May 2009

    Barclays Wealth is reissuing its Super Tracker structured product with an option for investors to link to the S&P 500.

  • Beaumont sets up sale and rentback firm

    7 May 2009

    Former Mortgages PLC chief executive Peter Beaumont is set to launch a new sale and rentback provider.

  • BlackRock reorganises emerging markets desk

    8 May 2009

    Alain Bourrier has left his fund manager role at BlackRock causing a reshuffle on the emerging markets desk.

  • Borrowers beware of variable mortgage risks, says John Charcol

    7 May 2009

    John Charcol is warning that borrowers on variable rate mortgages should be “very aware” of the risk of a rapid rise in their payments once base rate does start to rise.

  • Bramdean Alternatives director quits

    11 May 2009

    Bramdean Alternatives investment trust non-executive director Peter Barton has resigned from the firm.

  • Bridging the pay gap

    8 May 2009

    The Equal Pay Act was introduced in 1970 and yet nearly 40 years on, it seems that the gap between men and women's pay is yet to disappear completely.

  • Broken banks

    7 May 2009

    I'm waiting for the apology from Callum McCarthy. The one that says "I got it wrong in September 2006."

  • Broker Talkback

    7 May 2009

    Do you agree with Council of Mortgage Lenders' chairman Matthew Wyles that lenders were not to blame for the current 'dysfunctional' mortgage market?No 100%Yes 0%

  • Brokers hit back at CML attack

    12 May 2009

    Brokers have hit back at the Council of Mortgage Lenders fierce attack onintermediaries.

  • Brokers wanted - no compliance or exams required

    7 May 2009

    Advisers have slammed a mortgage firm looking for broker recruits promising no need for FSA authorisations, compliance, qualifications or experience.

  • Budget makes zeros look attractive

    11 May 2009

    Zero dividend preference shares (ZDPs) have become a more attractive investment proposition following the recent budget, according to Wins Investment Trusts (Wins).

  • Bull call gets wary response

    7 May 2009

    Fund managers have given a mixed reaction after fund guru Anthony Bolton called the start of the next bull market.

  • Bypass life companies to offer protection value

    7 May 2009

    Finance and Technology Research Centre director Ian McKenna has urged platforms to go direct to reinsurers to launch good value protection products.

  • Can you teach an old watchdog new tricks?

    6 May 2009

    We all know the current system of regulation has failed, somewhat miserably, to keep markets under control.

  • Cash fears on transparency

    7 May 2009

    Threesixty has warned there is a danger of platforms being seen as "a cash piñata" with too many players trying to make money out of them.

  • Charging could be VAT target

    7 May 2009

    AWD Chase de Vere marketing director Martyn Laverick has warned that adviser charging is a likely target for the Treasury to raise revenue through VAT.

  • Chinese prices fall further

    12 May 2009

    Chinese producer and consumer prices fell in April, according to the National Bureau of Statistics of China.

  • CML calls for RDR read-across in fierce broker attack

    12 May 2009

    The Council of Mortgage Lenders has called for aspects of the retail distribution review to be read across to the mortgage market in a fierce attack on brokers.

  • Cofunds offers tax change adviser workshops

    7 May 2009

    Cofunds has teamed up with Technical Connection to offer country-wide workshops to help advisers get to grips with the latest tax changes from the Budget and Finance Bill.

  • Concern over the rush to platforms

    7 May 2009

    Investment Quorum has warned that some IFAs may be tempted to jump on the platform bandwagon to increase their margins in the market turmoil.

  • Confidence building

    7 May 2009

    We live in an incredibly small world. We might imagine that we are the only people facing constant change and attacks to our profession, yet almost every country faces similar pressures.

  • Conforto picks Raymond James as its platform partner

    7 May 2009

    Conforto Financial Management has selected Raymond James as its platform partner.

  • Consortium turns up the heat on risk

    7 May 2009

    The Consulting Consortium has set up a web-based Risk Frameworker tool to allow firms to self-assess their internal risk management systems and controls.

  • Consumers disinterested in adviser charging for guided sales, says Focus Solutions

    7 May 2009

    Consumers do not want to be involved in adviser remuneration under a guided sales process, according to research conducted by Focus Solutions.

  • Cultural connection

    8 May 2009

    We have much on our plates as an industry at the moment, dealing with clients in a volatile market on the one hand and preparing for retail distribution implementation in 2012 on the other. It leaves little time to think about changing consumer trends and needs and how we prepare for that.

  • Custis builds in real estate

    7 May 2009

    Lazard Asset Management is building a position in real estate funds within its UK alpha fund.

  • CVC is challenged for Barclays ishares business

    11 May 2009

    Barclays Bank is understood to have received up to three new bids for its ishares division.

  • Darling admits there's 'no science' in his 50% tax rise

    7 May 2009

    Chancellor Alistair Darling has admitted there is "no science" behind his decision to set the higher-rate tax threshold at 150,000.

  • Deal or no deal

    7 May 2009

    After what has been an extremely drawn out process, Aviva and policyholder advocate Clare Spottiswoode have finally agreed on a renegotiated reattribution deal which sees pay outs to policyholders slashed in half.

  • Developed country inflation falls in March

    6 May 2009

    Annual inflation in the Organisation for Co-operation and Development (OECD) area fell to 0.9% in March, according to figures for the month from the OECD Consumer Price index.

  • Disciplinary hearing for two ex-CII members

    7 May 2009

    Two former members of the Chartered Insurance Institute have been referred to a disciplinary panel following allegations that confidential CII documents were passed to a rival.

  • Dividends that may not pay off

    7 May 2009

    The fall in interest rates to 0.5 per cent should finally have brought a smile to the face of many UK equity income managers.

  • Draw a clear dividing line on distribution

    7 May 2009

    This newspaper's exposure of errors at Barclays Bank which allowed the Aviva global income fund to be wrongly classified and expose clients to unacceptable risk and financial loss has since been picked up in the wider media and we continue to unearth more examples of the bank's clients receiving inappropriate advice concerning this fund.

  • ECB cuts rates by 0.25%

    8 May 2009

    The European Central Bank (ECB) has cut interest rates by 25 basis points and decided to pump €60 billion (£52.7 billion) into the eurozone economy.

  • Economic slump is driving ETF boom

    7 May 2009

    Ascentric head of sales Shaun Sandiford believes demand for exchange-traded funds and other passives is rocketing due to the economic climate.

  • Equitable chairman to retire from the board

    12 May 2009

    Equitable Life chairman Vanni Treves has decided to retire later this year after eight years in the role.

  • Ethical prospects look good

    7 May 2009

    Worldwide IFA Nick McBreen says investors do not have to sacrifice returns to invest in ethical funds as many have held up well in the downturn.

  • EU rules could hit investment trusts

    8 May 2009

    Proposed European Union rules could create fundamental problems for investment trusts, says Ian Sayers, the deputy director general of the Association of Investment Companies (AIC).

  • F&C announces manager reshuffle as Scott returns

    8 May 2009

    Ted Scott has returned to F&C but will no longer be managing money for the firm.

  • F&C Commercial Property Trust to continue

    7 May 2009

    Shareholders in the 584m F&C Commercial Property Trust have voted against winding up the vehicle.

  • F&C reshuffle as Scott returns

    8 May 2009

    Ted Scott is returning to F&C after a period of illness but will no longer manage money for the group. Meanwhile several funds will get new lead managers as F&C reorganises its UK equities desk.

  • Family affair

    7 May 2009

    As I enter the final years of my life, I am beginning to plan my financial affairs in terms of inheritance for my family. Can you please tell me what I need to bear in mind, particularly for my autistic son?

  • Feverish speculation

    7 May 2009

    More questions than answers from the wonderful world of investment over the last weeks or so - not least, is Hargeave Hale new boy Patrick Evershed now officially the Duracell Bunny of fund management?

  • Financial Services Skills Council denied new licence

    11 May 2009

    The Financial Services Skills Council’s bid for a new licence has been officially denied by the UK Government, bringing the role and strategy of the body under review.

  • Find the facts for a basis for regulation

    7 May 2009

    Since the introduction of regulation in 1986, Britain has seen a dramatic reduction in choice and competition in many areas of the financial market.

  • Fitch downgrades Assurant Insurance

    11 May 2009

    Fitch Ratings has downgraded both Assurant General Insurance and Assurant Life Insurer.

  • Friends looks at single Sipps

    7 May 2009

    Friends Provident is consider- ing a push into the individual Sipp market.

  • Friends Provident restructures debt

    8 May 2009

    Friends Provident is restructuring up to £300m of its debt to strengthen capital ahead of the demerger of F&C Asset Management.

  • FSA bans and fines mortgage broker £100,000

    11 May 2009

    The FSA has banned an Essex mortgage broker and fined him £101,279 for submitting a fraudulent mortgage application.

  • FSA ends investigation of Resolution directors

    8 May 2009

    The FSA has closed its investigation into Clive Cowdery and several other Resolution directors.

  • FSA may block sales of distressed mortgage books to unregulated firms

    12 May 2009

    FSA managing director of retail markets Jon Pain said the FSA will look to prevent distressed mortgage books from being sold to unregulated firms.

  • FSA quarantines department after swine flu scare

    11 May 2009

    The FSA has sent 10 staff home after one colleague returned from America with a probable case of swine flu.

  • FSA says mortgage proc fees could be scrapped

    12 May 2009

    The FSA says it may scrap the payment of mortgage proc fees and introduce adviser charging instead in a bid to stamp out product bias.

  • FSA staff cleared of swine flu

    12 May 2009

    The FSA employee sent home with a suspected case of swine flu has been cleared of the illness.

  • FSA to impose higher fines on financial criminals, say reports

    6 May 2009

    The Financial Services Authority could impose higher fines on those who commit financial crime under new proposals due in the summer chief executive Hector Sants suggested last night.

  • FSA to investigate Lehman structured product complaints under ‘wider implications’

    7 May 2009

    The FSA is to investigate all issues relating to Lehman-backed structured products under the “wider implications” process.

  • FSA's Turner highlights complexities in mortgage product regulation

    12 May 2009

    FSA chairman Lord Adair Turner today highlighted the complexities of product regulation in the mortgage market in a speech at the FSA mortgage conference.

  • FTSE 100 falls back

    11 May 2009

    The FTSE 100 opened marginally higher today but soon slipped into the red as banks and mining stocks led the index lower.

  • FTSE lifts above 4,500

    7 May 2009

    London equities opened higher today at 4,409 with financial stocks lifting the index as high as 4,510 ahead of the results of the US stress tests.

  • FTSE slips with banks lower

    12 May 2009

    The FTSE 100 opened at 4,436 today and dropped as low as 4,405 in early trades with banks and miners amongst the hardest hit.

  • Fund sales recover

    6 May 2009

    British investment fund sales staged a recovery in the first quarter of 2009 following a tough environment last year, according to Lipper.

  • Gartmore appoints head of high yield

    7 May 2009

    Kam Tugnait is joining Gartmore as head of high yield with responsibility for the High Yield Corporate Bond fund.

  • Gartmore appoints head of high yield

    7 May 2009

    Gartmore has appointed Kam Tugnait as head of high yield.

  • Gartmore backs life settlements

    7 May 2009

    Gartmore's multi-manager absolute return fund is investing in a life settlement fund which it says has produced consistent positive returns.

  • Gartmore goes for absolute returns with a difference

    11 May 2009

    GartmoreUK Absolute Return Fund

  • German economy stabilising

    11 May 2009

    The downward trend in Germany’s economy appears to be slowing.

  • Global economy still faces many challenges, says PSigma’s Mott

    12 May 2009

    PSigma’s Bill Mott has warned that investors may get carried away with their view of the perceived strength of economic recovery.

  • Global regulation needed to ensure recovery of financial services

    7 May 2009

    The Financial Services Global Competitiveness Group says a global approach to regulation is needed to ensure the recovery of the financial services sector.

  • Governance attitudes need radical overhaul, says Sants

    7 May 2009

    The attitudes and competence of the individuals who conduct governance within financial companies need radical overhaul, according to the FSA.

  • Hargreaves Lansdown adds Artemis strategic assets to Wealth 150

    12 May 2009

    Hargreaves Lansdown has added Artemis strategic assets fund to its Wealth 150 range.

  • Hargreaves Lansdown appoints Ian Gorham as chief operating officer

    7 May 2009

    Hargreaves Lansdown has announced the appointment of Ian Gorham as chief operating officer.

  • Henderson appoints Simon Ward as chief economist

    6 May 2009

    Henderson Global Investors has announced the appointment of Simon Ward as chief economist.

  • Henderson New Star realigns technology fund

    11 May 2009

    Ian Warmerdam and Stuart O’Gorman have sold about half the positions in the £154m New Star Technology fund they took over in April following the merger of Henderson and New Star.

  • High rate tax relief on pensions can stretch to £170K, says Skandia

    7 May 2009

    The upper income limit under which people can receive higher rate tax relief on pension contributions can be extended by £20,000, according to Skandia.

  • Higher learners

    7 May 2009

    Regulation, like many things, is cyclical. Light-touch, prescriptive, principle-based, outcome-based - and now "a regulator to fear". How many times have we heard these phrases in the past year or two? Does regulation drive market behaviour or is it the reverse? I'll let you decide.

  • House price drops 1.7 per cent in April, says Halifax

    6 May 2009

    The average price of UK homes dropped by 1.7 per cent to £154,716 in April, according to the latest figures from Halifax.

  • House prices to plunge 9% further, say brokers in Exact poll

    12 May 2009

    House prices have a further 9.2 per cent to fall, brokers polled by Exact have forecast.

  • How to beat the Budget

    7 May 2009

    Anyone who thought the Budget was a foregone conclusion was in for a surprise. There were a number of changes from the pre-Budget report and they all looked grim for higher-earners.

  • Huge leap in cap ad for 100% LTV loans revealed by Imla

    7 May 2009

    The Intermediary Mortgage Lenders' Association is warning the Government that capital adequacy requirements on 100 per cent LTV mortgages are as much as 185 times that on 70 per cent LTV deals.

  • Husselbee prescribes surgeries

    7 May 2009

    Multi-manager John Husselbee of North Investment Partners is buying into MedicX, a fund which invests in doctors' surgeries.

  • IFA label seen as 'tarnished brand'

    7 May 2009

    Capital Asset Management managing director Alan Smith claims the IFA label is tarnished and it is no longer a title he wears with pride.

  • IFA talk highlights PMI opportunities

    7 May 2009

    The Association of Medical Insurance Intermediaries is hosting a session for IFAs at its annual conference that will focus on private medical insurance as an additional revenue stream.

  • IMF gives Poland $20bn credit line

    7 May 2009

    Poland has become second country after Mexico to receive approval for a flexible credit line from the International Monetary Fund (IMF).

  • Inflation index confusion could mislead Nat Savings clients

    7 May 2009

    Advisers say the promotional literature for National Savings and Investments' "inflation-beating" index-linked savings could mislead the public.

  • Insurers must cater for migrant groups, says CII

    8 May 2009

    Insurance firms must develop more products for migrant groups working in the UK, according to research published by the Chartered Insurance Institute today.

  • Investec links FTSE and RPI

    7 May 2009

    Investec Structured ProductsFTSE100 and RPI Combination Plan 7

  • Investec Structured Products - FTSE 100 and RPI Combination Plan 7

    12 May 2009

    Investec Structured ProductsFTSE 100 and RPI Combination Plan 7

  • Investment funds down £12.8bn in Q1, says IMA

    7 May 2009

    Total investment funds under management fell by £12.8bn to £347.9bn at the end of Q1 this year from £360.7bn in the previous quarter, according to the latest statistics from the Investment Management Association.

  • IoM signs double taxation agreement with Estonia

    8 May 2009

    The Isle of Man today signs a double taxation agreement with Estonia.

  • IPPR calls for mandatory mortgage lending guidelines

    11 May 2009

    The Institute for Public Policy Research says the collapse of the housing market was largely caused by reckless lending behaviour of mortgage lenders and calls for a strict adherence to lending guidelines in the future.

  • Is Lifesearch's quick advice route the answer?

    12 May 2009

    Lifesearch has this week launched what it claims to be the first service offering consumers the ability to buy protection products with advice and receive instant cover.

  • Job cuts loom at AWD Chase de Vere

    7 May 2009

    Bristol-based IFA firm AWD Chase de Vere has entered into a consultation period which may lead to redundancies. The firm refused to comment on the cuts.

  • JPMorgan Asset Management - JPM Strategic Bond Fund

    8 May 2009

    JPMorgan Asset ManagementJPM Strategic Bond Fund

  • Keydata launches extra income plan

    11 May 2009

    Keydata Investment Services has launched the extra income plan issue 27.

  • Kingston Unity set for IFA channel

    7 May 2009

    Kingston Unity Friendly Society is launching its products through IFAs in the third quarter of this year.

  • L&G appoints Nigel Wilson as CFO

    7 May 2009

    Legal & General has appointed Nigel Wilson as group chief financial officer, in succession to Andrew Palmer who is retiring.

  • L&G set to invest in building new rental property

    7 May 2009

    Legal & General is one of two pension funds in early talks with the Homes and Communities Agency over investment in building new rental properties.

  • L&G to axe 560 jobs

    12 May 2009

    British insurer Legal & General is in talks with unions to make up to 560 of its staff redundant.

  • Landlord licence plan aims to axe rogues

    7 May 2009

    Landlords could have to apply for a licence to let residential properties in Government plans to clamp down on rogue landlords.

  • Latin lessons

    7 May 2009

    Latin America has often lured investors with the promise of riches. From the Europeans who crossed the Atlantic in search of El Dorado in the 16th Century to the Latin American debt bubble of the 1820s and beyond, the region's vast natural resources have attracted attention.

  • Legg Mason merges global bond funds

    6 May 2009

    Legg Mason is merging the assets from its Luxembourg-domiciled Global Multi Strategy Bond fund into the British version of the vehicle to make it more appealing to domestic investors.

  • Life of Pi

    7 May 2009

    Satisfying our due diligence and the overriding obligation to treat our customers fairly were the key drivers in our wrap selection process. The variety of approaches and flavours in this market and the lengths that some players go to gloss over gaps and weaknesses in their propositions meant that this is not an easy process.

  • Lifesearch launches consumer-facing website

    11 May 2009

    Lifesearch has launched a consumer-facing website helping those who are less financial savvy purchase protection products.

  • Lloyds reiterates loss warning for 2009

    7 May 2009

    Part-nationalised Lloyds Banking Group has warned that it expects to make a loss in 2009, despite “good progress” in the first few months of the quarter.

  • Lock-in could offer fair deal on age 75 rule

    7 May 2009

    Suffolk Life says the Government should require people to lock in to a minimum level of annual income when they buy an annuity at 75 but be allowed to use their remaining pension pot as they choose.

  • LSE's Dame Clara Furse joins L&G as non-executive director

    8 May 2009

    Legal & General has appointed London Stock Exchange chief executive Dame Clara Furse as an independent non-executive director of the group.

  • Lutine Assurance Services makes IFA sales manager redundant

    11 May 2009

    Lutine Assurance Services has made IFA sales manager Shaun Murphy redundant.

  • Macquarie Group secures £266m capital raising

    7 May 2009

    Australian banking giant Macquarie Group has successfully priced a £266m capital raising by way of a fixed bookbuild.

  • Make or break

    7 May 2009

    Rising costs and confusion between the responsibilities of managers and the independent boards of investment companies are some of the potential implications of draft rules issued by the European Commission last week.

  • Manager focus: Andrew della Casa

    8 May 2009

    Investors in the Wine Investment Fund received a lump sum payment of five years’ annualised double-digit returns in 2008, proving the asset class has a low correlation with equity and bond markets, says the manager, Andrew della Casa.

  • Manager focus: Anne Gudefin

    12 May 2009

    Soon after the Korean crisis in 1998 people were seeing their dentists and asking to have gold removed from their teeth to sell, recalls Anne Gudefin, the co-manager of the Franklin Mutual Global Discovery fund. While the countrys economy may have been battered, that was the time to buy shares, she says.

  • Manager focus: John Bennett

    7 May 2009

    After a three-year underweight to banks, John Bennett at Gam is beginning to buy back into the sector on his two European equity vehicles.

  • Manager focus: John Bennett

    7 May 2009

    After a three-year underweight to banks, John Bennett at Gam is beginning to buy back into the sector on his two European equity vehicles.

  • Managers move to take on more risk

    11 May 2009

    Fund managers have been moving down the market capitalisation scale as they search to take on more risk in their portfolios in what could be the first step of a recovery.

  • Manufacturing down but trade deficit shrinks

    12 May 2009

    British manufacturing output fell 5.5% in the first quarter of 2009 compared with the previous quarter, according to the Office for National Statistics (ONS).

  • Matrix ascension looks to futures

    8 May 2009

    The Matrix ascension fund provides sophisticated retail investors with access to a diversified portfolio of global futures by investing in the sterling share class of the Winton futures fund.

  • Model approach

    8 May 2009

    The journey toward the new model of financial advice is much discussed and seems set to play an important role in how advisers review their business models to build their businesses and remain profitable in a changing landscape.

  • Money Marketing scoops awards

    7 May 2009

    Money Marketing swept the board at this year's prestigious Headline Money awards. MM won personal finance trade title of the year while Lee Jones was mortgage writer of the year and Helen Pow was pensions writer of the year. Former editor John Lappin was crowned journalist of the year while Chris Salih was runner-up as investment writer of the year and Julian Marr was runner-up as columnist of the year.

  • Mortgage DA figures plummet

    11 May 2009

    More than 300 directly authorised mortgage brokers left the industry in the first three months of this year, according to the latest FSA figures.

  • Mortgage Intelligence and Mortgage Next to merge after purchase

    7 May 2009

    European Financial Solutions has bought up Mortgage Intelligence and announced plans to merge the firm with its existing network Mortgage Next.

  • Move to set up website offering RDR aids

    8 May 2009

    Corporate Training Partnerships and Perception Support are setting up a website to provide RDR resources.

  • Moxham becomes public face of revitalised GRiD

    12 May 2009

    Katharine Moxham has left Jardine Lloyd Thomson to take over as spokesperson for Group Risk Development which is implementing a series of new initiatives to raise its public profile.

  • MPs call for exit strategy on quantitative easing

    7 May 2009

    MPs grilled the Chancellor over the lack of exit strategy for the Bank of England's £75bn of quantitative easing programme.

  • MPs call on Govt to review pensions tax relief cut

    6 May 2009

    The Treasury Select Committee has called on the Government to monitor the effect of the removal of higher rate tax relief on pensions contributions and consider an alternative if it has a negative impact on pension savings.

  • National history

    7 May 2009

    Peter Hargreaves is an early riser. I know this because as I was motoring up to London last week, his dulcet tones could be heard on BBC Radio 5 at about 6am complaining about the Government's 50 per cent tax plans for earnings over £150,000.

  • NatWest fails new test

    7 May 2009

    A Which? investigation into NatWest's MoneySense service has borne out Money Marketing's findings that it is sometimes failing to deliver on its promise of impartial advice.

  • NDFA - Regular Fixed Income Plan April 09

    11 May 2009

    NDFARegular Fixed Income Plan April 09

  • NDFA reissues defined income range

    8 May 2009

    NDFA has launched the April issue of its defined income product range.

  • Network Data is suspended from Aim

    7 May 2009

    Network Data was temporarily suspended from Aim on Tuesday after Lighthouse revealed it had abandoned talks for a potential takeover of advisers and some key staff. A source says Network Data's bank, HBOS, blocked the deal when it failed to release security over the company by last week's Friday afternoon deadline. The source says HBOS believes it can get more money for the company than Lighthouse was offering.

  • New income plan from Keydata

    11 May 2009

    Keydata has launched the latest version of its Extra Income Plan, offering 7.8% annual income over the five-year term. Capital is protected unless the FTSE 100 falls by 50% or more at the end of the plan, in which case capital will be lost by 1% for each 1% fall in the index.The plan opens this week and closes on June 12 for Isa transfers, and July 3 for other business. The minimum investment is £3,600.

  • New US equity fund for Legg Mason

    11 May 2009

    Legg Mason is planning to create an American equity income fund for Clearbridge, one of its subsidiary companies.

  • Norwich and Peterborough appoints new board director

    7 May 2009

    Norwich and Peterborough Building Society has appointed Eric Stobart to its board of directors.

  • Not a middle class recession

    8 May 2009

    This recession was predicted to become a middle class or white collar recession, because of the distress of the financial sector. In reality, however, low-skilled, low-educated and young workers are being hit hardest.

  • OBSR suspends Stewardship ratings

    11 May 2009

    Old Broad Street Research (OBSR) has suspended the A ratings on the F&C Stewardship Growth and Stewardship Income funds.

  • Octopus enters deal with Paradigm

    7 May 2009

    Octopus Investments Ltd has entered into a strategic relationship with Paradigm Partners to provide its offering to network members.

  • Off balance

    7 May 2009

    The admission by Barclays that it incorrectly categorised the risk of one its biggest-selling funds will do little to calm the nerves of the public, most of whom probably now rate bankers below estate agents when it comes to those they trust least.

  • Old Mutual boosts capital but life sales fall 25 per cent

    7 May 2009

    Old Mutual has reported a 25 per cent drop in group-wide life sales from £423m to £316m but it has boosted its capital position by almost 20 per cent to £900m in the first quarter of 2009.

  • Omam to launch two equity funds

    8 May 2009

    Old Mutual Asset Managers (Omam) is launching two equity funds, Old Mutual Dynamic Equity and Global Equity Absolute Return.

  • Ombudsman finds no basis for Govt's rejection of Eq Life report

    6 May 2009

    Parliamentary Ombudsman Ann Abraham has branded the Government’s response to her report into the Equitable Life collapse as “deeply disappointing” saying it provides insufficient support for the rejection of her findings.

  • On the Bright side

    8 May 2009

    I ended up in this industry as a result of a three-week rugby tour to the US. At the end of the tour, I missed my plane home (don't ask), met a girl, married her and, having obtained my Green Card, followed the very pointed advice of my new mother-in-law to "find a proper job".

  • Openwork appoints Kate Avery as non-exec director

    7 May 2009

    Openwork has appointed Kate Avery as non-executive director.

  • Overweight resources boost Waverton fund

    11 May 2009

    Russell Wallis says sticking with an overweight resources position over the past two years has helped the fund generate a positive return.

  • Pada consults on default for risk averse target group

    11 May 2009

    The Personal Accounts Delivery Authority has launched its consultation on how to design a default fund to meet the needs of a broad range of savers, many of whom have no experience of financial products.

  • Pada floats lifestyling alternative

    7 May 2009

    The Personal Accounts Delivery Authority has suggested spurning traditional lifestyling methods for personal accounts in favour of 'target date funds' which relate to investors' expected retirement dates, in a consultation launched today.

  • Paradigm teams up with Aegon to offer business protection workshops

    11 May 2009

    Paradigm Mortgage Services has teamed up with Aegon to host a series of business protection workshops for members.

  • Pension action plan

    7 May 2009

    This year's Budget will be certainly go down as memorable in the pension history book.

  • People on the move: Distribution

    8 May 2009

    Axa Distribution Services appointed three new Elevate distribution directors Roz Simcock, Bruce Cargill and Dominic Clabby.

  • People on the move: Investment

    8 May 2009

    FourWinds Capital Management, the alternative investment manager, has appointed of Lydia Whyatt as managing director in the environment group. Prior to joining the firm, Whyatt spent four years as managing director at Foursome Investments. In her new role, she will focus on deal execution and implementation and will be based in the London office.

  • People on the move: Mortgages

    8 May 2009

    Nationwide has appointed Andy McQueen as divisional director for mortgages and savings. McQueen, who replaces Matthew Carter, was previously divisional director of specialist lending, covering both The Mortgage Works and the building society's former intermediary arm UCB Home Loans. He will be responsible for the creation and marketing of all mortgage and savings products.

  • People on the move: Pensions

    8 May 2009

    Prudential chief executive Mark Tucker is to step down from his position in October, with group financial officer Tidjane Thiam taking over the role. Tucker, who has been at the insurer for 25 years and held the position of CEO for the past four, has not revealed his future plans although he insists he has "one more big job" in him.

  • Personal accounts to fail - Punter Southall

    11 May 2009

    Personal accounts will be a failure because most employers will retain their existing scheme, making an annual charge of less than 1 per cent impossible, says Punter Southall Financial Management.

  • PFS launches school-based training project

    8 May 2009

    The Personal Finance Society, in partnership with the Personal Finance Education Group, is launching a school-based financial skills and awareness project.

  • PFS study groups to prepare for exams

    8 May 2009

    The Personal Finance Society is rolling out a series of regional study groups to help its members prepare for the diploma in financial planning exams.

  • Pi Financial director Harriet MacKenzie Williams steps down

    6 May 2009

    Pi Financial's Harriet Mackenzie Williams has resigned as a director of the firm.

  • PMS extends protection panel

    6 May 2009

    PMS has extended its protection panel to include the likes of Bupa, Bright Grey and Pru Protect.

  • PNG goes into administration

    8 May 2009

    Premier Network Group is going into administration amidst claims it owes money to many of its appointed representatives in renewal commissions and procuration fees.

  • PosSol aims to link IFAs with accountants and solicitors

    7 May 2009

    Positive Solutions has set up a partnership initiative offering members referral opportunities with solicitors and accountants.

  • Praemium cutting UK workforce to save £2m a year

    7 May 2009

    Australian-based technology platform provider Praemium is cutting its UK workforce in a bid to save the firm £2m per year.

  • Profits jump for buoyant Intelliflo

    7 May 2009

    Intelliflo profits for 2008 leapt by 65 per cent to £1.6m.

  • Pru predicts ETV breakthrough at FTSE100 companies

    6 May 2009

    A significant breakthrough in FTSE 100 companies offering enhanced transfers for deferred members to leave final salary plans is expected according to research carried out by Prudential.

  • Public look for advisers with qualifications

    8 May 2009

    Over a third of consumers who look for an IFA on unbiased. co.uk are specifying qualification levels in their search.

  • RBS announces three senior executive appointments

    6 May 2009

    RBS has appointed three new senior executives, including ANZ executive Committee member Brian Hartzer.

  • RBS posts £44m loss for Q1

    8 May 2009

    Royal Bank of Scotland has posted a pre-tax loss of £44m for the first quarter compared to profits of £479m the same time last year.

  • Recession guide for advisers

    8 May 2009

    J P Morgan has launched a guide to help advisers safeguard their businesses against the recession.

  • Remote control

    7 May 2009

    The possibility of a flu pandemic may mean that businesses need staff to work at home to cut the risk of infection.

  • Rock could be sold early for right price

    7 May 2009

    There could be an early sale of Northern Rock if the price is right, Chancellor Alistair Darling revealed to MPs last Wednesday.

  • Royal Liver looking to offload Park Row, say reports

    11 May 2009

    Royal Liver has appointed accountants Ernst & Young to oversee a sale of its loss-making distribution arm Park Row, according to reports.

  • S&P 500 'to end the year on a high'

    7 May 2009

    The S&P 500 will end the year significantly higher than its current levels, according to James Abate, the manager of the PSigma American Growth fund.

  • S&W adds short-dated bond fund

    7 May 2009

    Smith & Williamson has added to its fixed-interest range with the launch of the short-dated corporate bond fund managed by Ian Kenny.

  • Sales boosted by a sunny April

    12 May 2009

    British retail sales rose in April thanks to the effects of some sunshine and Easter.

  • Schroders appoints new manager for maximiser as Teahan departs

    7 May 2009

    Schroders has appointed Thomas See as the new head of its income maximiser fund following the departure of John Teahan from the firm.

  • Seven arrested in FSA operation against boiler rooms

    6 May 2009

    Seven people have been arrested after the FSA, in co-operation with police, raided a number of premises in the South East of England as part of its investigation into boiler room scams.

  • SFO to proactively hunt for fraud cases

    8 May 2009

    The Serious Fraud Office is to begin proactively looking for cases of misconduct rather than waiting for them to be handed over by the police or regulators.

  • Skandia enhances Pricewatch tool

    6 May 2009

    Skandia has enhanced its platform price comparison tool by adding four new functionalities to the service.

  • Skandia goes dynamic

    7 May 2009

    Skandia Investment ManagementGlobal Dynamic Equity Fund

  • Skills Academy chooses chief exec

    8 May 2009

    Her primary role is to increase awareness among employers, employees and potential new joiners to the industry of the training and development opportunities that exist.

  • Skills Council on brink of closure, say reports

    11 May 2009

    The Financial Services Skills Council has been threatened with closure after Whitehall found it to be incompetent, according to the Financial Times.

  • Small Business Panel hits out at Network Data

    12 May 2009

    The Small Business Practitioners’ Panel has attacked Network Data for leaving its appointed representatives and their borrowers out in the cold.

  • Smash and grab broke trust in pensions

    7 May 2009

    I guess being in Government is not about winning popularity contests, unless you count the general election, of course.

  • Spottiswoode and Which? slam FSA on orphan funds

    6 May 2009

    Aviva policyholder advocate Clare Spottiswoode and consumer champion Which? have lambasted the FSA for allowing shareholders to raid life companies’ inherited estates to the detriment of policyholders.

  • Stick Cricket will put you to the test

    7 May 2009

    Money Marketing has teamed up with Ignis Asset Management to bring you the best in desktop sporting action.

  • Stop the secretisation

    7 May 2009

    I was impressed by the comments from Michael White of Email Mortgages regarding the destruction of advised choice by lenders.

  • Strategic return

    7 May 2009

    I wonder how many brokers recognise the name of William Littlewood. He was the star UK fund manager of the 1990s and is also probably the best fund manager I have ever met.

  • Strong demand

    8 May 2009

    This year has brought about many changes for recruiting within the financial services sector. Demand for well qualified and experienced IFAs is still strong despite the economic downturn. The option of being self-employed is still popular as it allows a high level of earnings and more autonomy.

  • Sylvia Perrins

    7 May 2009

    Sylvia Perrins has a daunting task in front of her. In addition to her responsibilities to increase the quality of training available for new recruits for financial services and promote the opportunities available in the industry, the new chief executive of the National Skills Academy for Financial Services is also looking to tackle the widespread ignorance about finance in the wider population.

  • Taylor Young appoints head of fixed income

    12 May 2009

    Taylor Young Investment Management has appointed Efi Ontopoulou as head of fixed income.

  • Teahan leaves Schroders

    7 May 2009

    John Teahan, lead manager of the £250m Schroder Income Maximiser fund, has left the group to “pursue opportunities outside the finance industry”.

  • Tenon to launch wealth management platform

    12 May 2009

    Tenon Financial Services is launching a new wealth management platform.

  • The Wheel deal

    7 May 2009

    RWC Partners originally launched under a different name and with a hedge fund focus in 2000, changing tack with the arrival of Peter Harrison as CEO six years later.

  • Third way at crossroads as Hartford shuts down in UK

    7 May 2009

    Variable annuity providers have rushed to reassure advisers they are committed to the market after Hartford announced its decision to shut down its UK new business operations last week.

  • Threadneedle launches Credit Opportunities fund

    7 May 2009

    Threadneedle has added a long/short Credit Opportunities fund to its absolute return product range.

  • Time for the super-prime

    7 May 2009

    A new report from the Building Societies Association predicting the shape of the mortgage market in 2020 suggests that IFAs rather than brokers will take centre stage in mortgage distribution.2020 Vision: The Mortgage Of The Future, written by mortgage expert Peter Williams outlines some of the possible outcomes resulting from the changing funding environment and demographic shifts.

  • Top and tail

    7 May 2009

    A gainst the backdrop of the last 18 months, top-down macro calls of which asset class to invest in have become increasingly important and helped shape a significant element of overall returns.

  • Tracker funds decline in popularity

    7 May 2009

    After a surge of investment in the fourth quarter of 2008, net sales of tracker funds fell in the first quarter of 2009, according to quarterly statistics from the Investment Management Association.

  • Tracker funds decline in popularity

    7 May 2009

    After a surge of investment in the fourth quarter of 2008, net sales of tracker funds fell in the first quarter of 2009, according to quarterly statistics from the Investment Management Association.

  • Transact hits out at Skandia claims

    7 May 2009

    Transact head of marketing Malcolm Murray has hit out at Skandia for making incorrect claims that certain funds were not available on Transact.

  • Treasury report says no country anticipated failure of global investment banks

    11 May 2009

    A discussion paper released by HM Treasury today says the UK's insolvency and regulatory regimes were not fully adapted to deal with the collapse of Lehman Brothers' because such an event had not been anticipated by any country.

  • Unum to cover all UK postcodes

    6 May 2009

    Unum is to offer cover across all UK postcodes in a move designed to remove hotspots from the group life market.

  • Vince Cable calls for details of FSA's stress testing

    8 May 2009

    Liberal Democrat Shadow Chancellor Vince Cable has written to the FSA demanding that it release details of how it is stress testing banks’ capital.

  • Waiting game

    7 May 2009

    I have been thinking of putting some more cash back into the market. Not yet, mind. Perhaps after the next wave of nervousness drives shares back below 4,000. We are, after all, in May - the season to sell and retire to the country. And we have an approaching flu pandemic - or at least that is what the media would have you believe. There are still plenty of people around to whom the glass is half empty, rather than half full.

  • Ward appointed Henderson chief economist

    6 May 2009

    Henderson Global Investors has appointed New Star’s Simon Ward as chief economist.

  • Watchdog dismay at response to report

    7 May 2009

    Parliamentary Ombudsman Ann Abraham says the Gov-ernment's response to her July 2008 report on Equitable Life was "deeply disappointing" and provided insufficient support for the rejection of her findings of maladministration and injustice.

  • WAY group enhances IHT offering

    12 May 2009

    The WAY Group has partnered with Ascentric to offer advisers a new open architecture inheritance tax solution.

  • Weather eye

    7 May 2009

    It may be considered sad to be on holiday and thinking about the financial services market but I have to admit that it did cross my mind on a recent trip to Florence.

  • Webb to head fund admin firm

    6 May 2009

    Peter Webb has re-entered the financial industry as chief executive officer (CEO) of Structured Investment Products (SIP), a fund administration business.

  • Where to go when the party’s over?

    11 May 2009

    London's stock market rally hit the brakes today after shooting above 4,500 in intraday trading last week as investors eased away from banks and miners.

  • Which? challenges impartiality of NatWest's MoneySense service

    6 May 2009

    A Which? investigation into NatWest’s MoneySense service has borne out Money Marketing’s findings that it is sometimes failing to deliver on its promise of impartial advice.

  • Whittaker stepping down at RBS

    7 May 2009

    Royal Bank of Scotland finance director Guy Whittaker is to step down from his role and the RBS board.

  • Whole numbers

    7 May 2009

    Is it only me that is questioning the worth and the motives of the Association of British Insurers? In 2007, its lobbying succeeded so famously that the initial retail distribution review publication appeared to be a replica of its official submission.

  • Zurich profits fall 40 per cent

    7 May 2009

    Zurich's operating profit world-wide has plunged 40 per cent in the first quarter to £728m compared with the same time last year.

  • Zurich targets HNW with offshore bond launch

    11 May 2009

    Zurich has launched a new international portfolio bond aimed at high net worth UK residents.

  • Zurich will not go live with Omo initiative until Q3

    11 May 2009

    Zurich has admitted it does not expect to go live with the Association of British Insurers' open market option initiative for annuity transfers until the third quarter.

Poll

Will Greece leave the euro?

Current Issue

Advanced search