Money Marketing
Hannah Stodell Editorial

Hannah joined the paper in June 2008 as a reporter covering investments, offshore, IHT and estate planning. She now focuses on investments and offshore news. Prior to MM she worked in financial communications and investor relations at Edelman PR.

Aifa warns on legal costs of FSCS judicial review

2 Jul 2010

Trade body warns of additional costs associated with judicial review proceedings, even if it is successful.
Anglo-American investment banking firm acquires Blue Sky

2 Jul 2010

US/UK securities and investment banking firm Incapital acquires Blue Sky’s book of business, client base and IP.
Elsa wants IFA help to create code for life settlements

1 Jul 2010

The European Life Settlement Association has launched an IFA consultation into the practices and issues surrounding life settlements.
Memory master to help SimplyBiz advisers study

1 Jul 2010

SimplyBiz’s New Model Business Academy hires record-breaking memory specialist David Thomas to help advisers study for the RDR.
'Back pension funds to boost UK recovery'

1 July 2010

Aviva Budget panel. left to right: Phil Jeynes, Direct Life; Robert Sinclair, Aifa; Simon Bradley, viva UK; Kay Ingram, LEBC Group; and Jonathan Cornell, First Action Finance
Check the value of new regulation

1 July 2010

First Action Finance head of communications Jonathan Cornell has called for a full cost-benefit analysis of any significant reforms brought in under the new regulatory regime.
IMA net retail sales dip below £1bn in May

1 Jul 2010

Net retail fund sales for May have dipped below £1bn for the first time since November 2008.
NI start-up deal labelled unfair to South-east

1 July 2010

LEBC Group divisional head of individual savings and investment Kay Ingram says the Government’s National Insurance exemptions for new start-ups outside London and the Southeast are unfair.
High Court grants Fatchett judicial review of FSCS

30 Jun 2010

Judge rules grounds raise arguable points on whether Keydata levy “erred in law or was otherwise flawed on public grounds”.
Veritas hires UK senior private client director

30 Jun 2010

Ross Ciesla joins as senior private client director from Newton.
Close hires IFA business development manager for North

29 Jun 2010

New intermediary business development manager hired focusing on Manchester, Leeds and Sheffield.
FSA “deliberately manufactured” Keydata administration, says Ford spokesman

28 Jun 2010

Keydata’s administration was the product of “deliberate and calculated” actions of the FSA says its founder.
AES International expands further into Europe

25 Jun 2010

AES registers branches in Italy and Germany.
CGT rise could see admin problems

24 Jun 2010

Financial services companies warn that the immeadiate CGT rise may create admin problems for taxpayers.
CGT move brings stealth tax for trustees

24 June 2010

The emergency Budget has introduced a new stealth tax on trustees which industry experts suggest could present a great financial planning opportunity for advisers.
Keydata chief slams the regulator's role

24 June 2010

Keydata founder Stewart Ford hit back last week at the FSA over its statements on the Keydata/ Lifemark saga.
Lawyers say FSA restructure will just be a costly rerun

23 Jun 2010

Legal experts warn the Government’s new regulatory framework will create immense costs and many of its perceived benefits are largely illusory.
CGT hike brings stealth tax for trustees

23 Jun 2010

Budget move provides financial planning opportunity for advisers.
Synthetic investments do nothing to help UK recovery, says Aifa

23 Jun 2010

Big pension vehicles not trackers boost equity participation and help economy more in the longer-term.
BUDGET: CGT rises to 28% from midnight for high earners

22 Jun 2010

CGT annual allowance of £10,100 remains unchanged this year.
Primrose Associates in administration

22 Jun 2010

Mortgage broker firm run by ex-St James’s Place partner Peter Carron put into administration.
Bluefin appoints international consultant

21 Jun 2010

Bluefin appoints Paul Andrews to its corporate consultancy team.
Budget could cause structured shake-up

18 Jun 2010

Gilliat Financial Solutions warns tax legislation in the emergency Budget may see huge changes for the structured products industry.
IFA rep in Big Brother house

17 Jun 2010

Former Whitechurch Securities sales rep has entered the Big Brother house in the final series of the reality TV show.
Legal pact could help platforms add funds

17 Jun 2010

Alliance Trust Savings has called for a standardised legal agreement to help simplify the pro-cess for platforms looking to sign up new funds.
Emerging plan

17 June 2010

Merchant Capital has launched a capital kickout plan for emerging markets, with exposure to Brazil and China.
IMA chief calls for action over chain conflicts

17 June 2010

Investment Management Association chairman Douglas Ferrans has called on the financial services industry to deal with the conflicts of interest created by excessive intermediation.
Lifemark paid out over £80m in fees

17 June 2010

Nearly £60m of up-front fees and commission was paid out of Lifemark to Keydata and a British Virgin-Islands listed firm.
Market volatility boosts kickouts

17 June 2010

The recent stockmarket volatility is creating more competitive terms for autocall products.
Product providers hit back at Which? criticism over risks

17 June 2010

Structured product providers have hit back at Which? Money’s recent list that ranked structured products among its top 10 useless financial products for consumers.
Swiss Life set for global assault

17 June 2010

Ex-Zurich International Life chief executive for the Middle East and Africa Carlos Sabug-ueiro has joined insurer Swiss Life to head the firm’s new international venture.
threesixty enlists Brian Lawless for IFA seminars on Budget

17 Jun 2010

Tax and trust consultant Brian Lawless to co-present IFA seminars on Budget implications.
FSA bans three more mortgage brokers

16 Jun 2010

Total number of mortgage brokers banned by FSA rises to 91.
Lifemark: Stewart Ford set up LAS Global

16 Jun 2010

Keydata founder Stewart Ford’s family trust set up offshore firm which received £38m in fees from Lifemark.
Skandia appoints head of Adviser Direct

16 Jun 2010

Robin Barrow to head up Skandia’s central team of business consultants for IFAs.
£50k annual pension cap too restrictive, says Skandia

15 Jun 2010

Govt should extend freeze on lifetime allowance for five years beyond 2016 or reduce it, says Skandia.
Bluefin expands corporate consultancy team

15 Jun 2010

Bluefin appoints two new client directors.
Bundle of trouble?

14 Jun 2010

Hannah Stodell talks to advisers as the FSA outlines its options on rebates, including an outright ban
ETF Securities to launch 22 currency ETCs on LSE

14 Jun 2010

Four emerging market and 18 sterling based currency ETCs will launch in coming weeks.
Moneygate acquires Beacon Asset Management

14 Jun 2010

Moneygate adds £90m to FUM with acquisition of Beacon Asset Management.
RWC Partners poaches JPM’s Bennett as sales director

14 Jun 2010

John Bennett joins RWC as sales director after 15 years at JP Morgan Asset Management.
Hargreaves says fund lists are cheap publicity stunts

11 Jun 2010

Hargreaves Lansdown chief executive hits out at Chelsea Financial Services and Bestinvest’s worst-performing fund lists, claiming they do not help investors.
Jubilee launch bucks 'FTSE-centric' trend

11 Jun 2010

Structured product provider Jubilee Financial Products is looking at a number of new launches outside the UK.
IMA welcomes OFT underwriting probe

11 Jun 2010

Douglas Ferrans says OFT probe will complement existing IIC inquiry into fees paid on rights issues.
Keydata and offshore firm drained £80m from Lifemark

11 Jun 2010

Lifemark paid offshore firm LAS Global Limited £38m and Keydata over £40m in commission and fees.
Schroders increases BP exposure

10 June 2010

Schroders income fund managers Nick Kirrage and Kevin Murphy increased their exposure to BP last week, amid US pressure on the firm to cut its dividend to pay for the Deepwater Horizon oil spill.
Stars playing for high stakes in Jupiter float

10 June 2010

Nutt will take a £38.8m share
Towry hires Aberdeen's Dawkins

10 June 2010

Towry has poached Aberdeen Asset Managers’ multi-manager head Robert Dawkins as its new chief investment officer.
US firm CarVal sets up funding deal for Lifemark

10 June 2010

US hedge fund CarVal has provided Lifemark with short-term funding to help sustain the company and preserve the value of policies held by thousands of Keydata investors, Money Marketing understands.
Short-term loan agreed to preserve Keydata Lifemark assets

8 Jun 2010

CarVal understood to have advanced £3.5m to Lifemark to preserve the value of life settlement policies.
SFO investigates Deutsche Bank’s role in Kaupthing fraud

7 Jun 2010

Deutsche Bank allegedly investigated over suspect trades, according to report.
Croft leaves Gilliat after restructure

4 Jun 2010

Gilliat Financial Solutions sales director John Croft has left the structured product provider following a restructure.
Investors hit out at risk warning on IoM fund

4 Jun 2010

Investors accuse Isle of Man government after a geared traded endowment policy provider marketing a fund as “low risk” lost over a third of their savings.
Schroder income duo up BP weighting

4 Jun 2010

Nick Kirrage and Kevin Murphy increase BP exposure to 3.5 per cent within Schroder income fund.
Towry poaches Aberdeen’s Dawkins as CIO

4 Jun 2010

Ex-Aberdeen head of multi-manager Robert Dawkins to join Towry.
Which? ranks structured products in “useless products list”

4 Jun 2010

Which? Money has featured structured products in its top 10 useless financial products list.
Eurozone crisis is 'tip of the iceberg'

3 June 2010

Octopus Investments’ Thierry Serero has warned the eurozone debt crisis is the tip of the iceberg in terms of austerity measures facing global markets.
Hounds on the run

3 June 2010

The worst offenders in Bestinvest’s latest round of dog funds have found themselves hampered by exposure to UK small caps. Hannah Stodell reports
Jubilee launches Euro Stoxx 50 kick out

3 Jun 2010

New Euro Stoxx 50 plan to address clients’ FTSE-centric portfolios.
Spencer-Churchill plans property firm

3 June 2010

Wealth boutique Spencer Churchill Miller Private founder Alexander Spencer-Churchill has quit the venture to set up a new company, ASC London, focused on property.
Neptune’s Geffen backs Michael McLintock for Pru CEO

2 Jun 2010

Robin Geffen says M&G chief exec McLintock should be given the top job.
Keydata Lifemark cash fears if rescue plan not agreed

1 Jun 2010

Investments in policies could become worthless if policies lapse before restructuring plan is finalised.
Octopus to focus on healthcare and technology

1 Jun 2010

Octopus Investments launches European absolute return fund, managed by Thierry Serero.
Spencer-Churchill Miller Private founder quits venture

28 May 2010

Alexander Spencer-Churchill sets up property company.
Advisers' first step towards legal fight with Park Row

27 May 2010

A group of 28 former Park Row advisers is taking its first step towards legal action against the former national IFA after mon-ths of being unable to service their clients.
Henderson has eight dog funds after New Star deal

27 May 2010

Henderson has eight underperforming dog funds following its integration with New Star, the highest number of any fund group, according to the latest Bestinvest survey.
Which? warns on comparison sites

27 May 2010

Which? has warned that some comparison websites could be encouraging investors to buy potentially risky structured products without taking financial advice.
£200K severance cash for Sprung

27 May 2010

Sprung: £174k salary
F&C chief says uncertain market suits stockpickers

27 May 2010

Lees: ‘Exciting opportunities’
HMRC data blunder affects up to 50,000

27 May 2010

Claimants were sent their annual tax credit award notice with personal details of other customers.
Revenue says kick-outs do qualify for Isas

27 May 2010

HM Revenue &Customs has U-turned in its guidelines on kick-out structured products, confirming that they do qualify for Isa investment.
Truestone aims to make an impact with green multi fund

26 May 2010

Truestone Asset Management is planning to offer a new green multi-manager fund to capitalise on opportunities in impact investments.
Dog funds take £14.25bn bite, says Bestinvest

24 May 2010

Invesco Perpetual tops the dog list with £1771m in assets under management across three funds.
Park Row's Peter Sprung given £200K payoff

24 May 2010

Royal Liver gives ex-Park Row CEO £200,000 severance pay before he is slapped with £49,000 FSA fine.
Capital gains tax hike to take shine off zeros

21 May 2010

Experts warn that zero-dividend preference shares will become less attractive with a higher capital gains tax rate, which is expected to be introduced by the coalition Government.
PI excess fears for ex-Park Row IFAs

21 May 2010

Ex-Park Row advisers fear they may be pursued for PI excess payments for complaints regarding files not vetted by internal compliance.
Yearsley surprised at speed of Jupiter float

21 May 2010

Hargreaves Lansdown investment manager Ben Yearsley says Jupiter’s decision to float next month may be linked to plans by the coalition Government to hike capital gains tax.
FSCS pays bulk of Lifemark tax claims

21 May 2010

FSCS says 11,950 Lifemark tax claims out of 13,500 have been resolved with 80 per cent offered compensation.
Labour unveils Shadow Cabinet

21 May 2010

Alistair Darling becomes Shadow Chancellor for the interim while Cooper Shadows Work and Pensions.
Adviser was right to class KSF as low-risk

20 May 2010

FOS advises IFA facing a claim for recommending an offshore bond exposed to KSF IoM that it was correct to class bank deposits as low risk investments.
Bluefin slashes jobs in private client division

20 May 2010

Bluefin Advisory Services has restructured its private client financial planning division, cutting adviser numbers from around 180 to 50.
Cable pledges it won't be business as usual for banks

20 May 2010

Business secretary Vince Cable has vowed to impose tough reforms on Britain’s biggest banks, stressing that there is “no way of going back to the status quo”.
Death of SimplyBiz MD Thorneycroft

20 May 2010

Ian Thorneycroft
HMRC U-turns on kick-outs

20 May 2010

Kick-outs where trigger event is conditional on financial index reaching pre-determined point are Isa compliant.
Intelligent Pensions launches drawdown initiative

20 May 2010

New scheme to help IFAs retain ongoing remuneration on existing drawdown business and meet RDR/TCF.
Newcastle Building Society cuts jobs

20 May 2010

Newcastle Building Society to cut 126 jobs and close four branches.
Osborne vows to cut corporation tax

20 May 2010

George Osborne unveils five-year corporation tax plan but promises to protect manufacturing allowances.
Emergency Budget will be more brutal than expected, says F&C’s Lees

19 May 2010

CGT will be high but likely to feature a duration call.
FSA warns 38,000 people of share fraud scam

19 May 2010

FSA says it has found the biggest list of potential fraud targets in UK and abroad.
Hedge fund rules pushed through by EU

19 May 2010

George Osborne bows to pressure on EU hedge fund rules.
OBSR withdraws rating on Schroder income funds

19 May 2010

Ratings on Schroder Income and Income Maximiser suspended following resignation of Ian Lance and Nick Purves.
S&P warns on Man Group’s GLG acquisition

19 May 2010

Standard & Poor’s says hedge fund manager Man Group’s plans to acquire GLG could weaken its liquidity profile.
Ex-Labour MP Ruth Kelly joins HSBC

18 May 2010

HSBC has appointed former Labour cabinet minister Ruth Kelly to its strategy unit, according to a report.
Jupiter announces plans to float next month

18 May 2010

Jupiter announces its intention to float next month, potentially netting over £500m for the group’s staff.
Osborne set for defeat on hedge fund fight

18 May 2010

George Osborne set to lose his challenge against the alternative investment fund manager directive today in Brussels.
Bluefin restructure cuts adviser numbers to 50

17 May 2010

Bluefin radically restructures private client division from 180 to 50.
Cable says banks face radical reforms

17 May 2010

Vince Cable to use his influence in Lib-Con coalition to impose radical reforms on the City.
Pru announces delayed £14.5bn rights issue

17 May 2010

Prudential has announced the terms of its £14.5bn rights issue to fund a proposed takeover of Asian rival AIA.
Integrity Financial Solutions classed as an intermediary for FSCS purposes

13 May 2010

Freedom of Information request reveals full range of firms classified as intermediaries by the FSCS.
Close widens reach of Guernsey Qrops

13 May 2010

Close Brothers Asset Management has widened the distribution of its Guernsey qualifying recognised overseas pension scheme to offer it through Royal London 360º Friends Provident International, Skandia International and Generali International bonds.
Euro Prip rules may pose problems for UK firms

13 May 2010

Experts have warned that the UK retail investment industry may incur additional costs once the European Commission outlines its measures on packaged retail investment products.
Overseas-based fund sales soar

13 May 2010

Overseas-domiciled funds saw £290m net retail sales in March, more than five times the £51m reported a month earlier, according to the latest Investment Management Association statistics.
Pru consolidates business development

13 May 2010

Prudential is consolidating the UK and international business development teams of its life business.
Act now to shelter from tax attack, IFAs warned

7 May 2010

Industry experts say advisers should seize the opportunity to review their clients’ tax planning ahead of post-election fiscal tightening.
DWS index tests climate change investment story

7 May 2010

DWS Investments, the mutual fund arm of Deutsche Asset Management, has launched an index to gauge investor sentiment on climate change investments.
Axa IM hire to boost global equities coverage

7 May 2010

Axa IM appoints Bruno Grandsard as portfolio manager for global equities.
Ex-Kaupthing chief arrested

7 May 2010

Former CEO of collapsed Icelandic bank Kaupthing is arrested on suspicion of market abuse.
Gartmore boosts multi-manager team

7 May 2010

Gartmore hires William de Bröe’s Nick Roberts as analyst to multi-manager team.
Guernsey Qrops plans New Zealand scheme

6 May 2010

Qualified recognised overseas pension scheme adviser Global Qrops says Guernsey Qrops providers may look to establish New Zealand schemes in the coming months to offer expatriates greater flexibility.
Moret says too much FSA focus on pension wrappers

6 May 2010
IFA says Skandia not passing on commission

6 May 2010

Simon Ainscough has hit out at Skandia for retaining commission when it passes clients on to L&G for annuities.
Transact calls for wider re-reg rules

6 May 2010

FSA should extend re-reg rules to all financial companies, not just platforms and set a time limit, says Transact.
Aifa not pursuing legal action against FSCS levy

6 May 2010

Aifa not pursuing legal action against FSCS based on legal advice sought which suggests a challenge would be unsuccessful.
Scope to grow amid low expectations

6 May 2010

Schroders head of UK equities Richard Buxton says domestic and consumer-related sectors could provide “tremendous opportunities” to make money despite headwinds facing the economy.
De Blonay to co-manage Financial Opps from June

4 May 2010

Guy de Blonay to co-manage the Jupiter financial opportunities fund from June 1.
Towergate to raise £665m to refinance debt

30 Apr 2010

Towergate Finance offers £365m senior secured notes and £300m senior notes to the market.
Three firms sign up to Succession

30 Apr 2010

Succession gains £500m under management with three new member firms.
Hargreaves adds SLI’s GARS fund to Wealth 150

30 Apr 2010

Standard Life Investments’ global absolute return strategies fund joins Hargreaves Lansdown’s recommended funds.
Fee cap on Allium fund

30 Apr 2010

Allium Capital is working with investment firms to create a new fund structure with a capped performance-related fee.
Investec's Dale tackles Meteor kick-out move

30 Apr 2010

Investec Structured Products head of intermediary sales Gary Dale has criticised Meteor’s decision to drop an Isa option on its latest kick-outplan pending HMRC clarification.
Heron House urges investors to review tax planning ahead of election

29 Apr 2010

Financial planner Heron House warns of ’calm before the storm’ for tax planning ahead of election.
Panthera to market new Malta Qrops

29 Apr 2010

Panthera signs distribution agreement for new Maltese qualified recognised overseas pension scheme.
Law firm in bid for levy judicial review

29 Apr 2010

Law firm Regulatory Legal has issued proceedings as a first step to launching a judicial review against the Financial Services Compensation Scheme’s £80m interim levy.
Lowes looks at structured secondary market fund

29 Apr 2010

IFA firm Lowes Financial Management is in talks with CitiFirst about launching a fund that invests in secondary market structured products.
Non-Isa clients win cash claim

29 Apr 2010

Some clients with non-Isa investments in certain Keydata plans who said they relied on misleading marketing literature have been successful in their claim for compensation.
Integrity could face £80m in Tep claims

29 April 2010

Collapsed geared traded end-owment policy provider Integrity Financial Solutions could face claims of £80m from clients, the firm’s liquidators have warned.
Investec assesses platforms to add structured funds

29 April 2010

Investec Structured Products is looking to launch a range of Ucits structured funds by the third quarter this year.
Merchant buys Keydata structured product book

29 April 2010

Merchant Capital has taken on Keydata’s structured product book and residual third-party administration, as revealed by Moneymarketing.co.uk.
Standard Life Intl picks Dunne as chief exec

29 April 2010

Standard Life International has appointed Nigel Dunne as its new chief executive.
Venture trusts double take to reach £340m

29 April 2010

Venture capital trusts raised a total of £340m in the last tax year, more than double the £158m raised in the previous tax year, according to figures from the Association of Investment Companies.
Ward steps down as DLP MD and Quayle takes role

29 April 2010

Direct Life and Pension Services managing director Michael Ward has stepped down as MD after founding the company 20 years ago.
Witan Pacific plans more tactical gearing

28 Apr 2010

Witan Pacific reports NAV total return of 33.4 per cent as at January 31.
Schroders’ Buxton sees opportunities in domestic/consumer sectors

28 Apr 2010

Low stock market expectations create positive scope for domestic/consumer stocks, says Schroders’ head of UK equities.
Ian Millward quits Jubilee Financial Products

28 Apr 2010

Structured product provider Jubilee head of distribution leaves firm.
DLP's Michael Ward steps down as MD

28 Apr 2010

DLP’s Michael Ward resigns as managing director and Rob Quayle takes up the post.
Merchant Capital acquires Keydata book

27 Apr 2010

Keydata plans excluding Lifemark, SLS and Hometrak plans transfer to Merchant Capital.
Risk rated funds set to replace ABC funds within 5 years, says survey

26 Apr 2010

Two-thirds of advisers who recommend active, balanced and cautious funds believe they will replace risk rated funds.
Investec separates marketing of deposits/structured investments

26 Apr 2010

Investec Structured Products launches new collection of plans and provides separate guide for deposit/structured investments.
FSCS pays out on some Keydata non-Isa claimants

23 Apr 2010

FSCS pays out to some direct Keydata investors in secure income bond plans who relied on misleading product literature.
Action group won't sue IFAs

22 April 2010

A newly formed Keydata action group has struck a deal with the Financial Services Compensation Scheme which allows members with eligible claims above the £48,000 limit to retain their rights to pursue recoveries against third parties.
HMRC tells kick-out firms to wait for its Isa review

22 April 2010

HM Revenue & Customs has told Isa managers to take “no further action” to identify any holdings of kick-out plans following a warning about their Isa eligibility in a recent industry bulletin.
Lloyds and SocGen join structured product body

22 April 2010

Lloyds Banking Group and Société Générale Corporate & Investment Banking have joined the UK Structured Products Association as members.
SFO extends probe to cover Lifemark

22 April 2010

The Serious Fraud Office has widened its Keydata probe and is now investigating the activities, control and ownership of Luxemburg-based life settlement vehicle Lifemark.
Wizard programme on website

22 April 2010

StructuredProductReview. com, the comparison and education site, has linked with Legal & General, Barclays Wealth and WizardLearning.com to subsidise an online training programme for IFAs.
Education key to growth of preferred securities market, says Principal

21 Apr 2010

Principal is taking £3.2m weekly into preferred securities through its Spectrum fund.
Advisers left in limbo plan to take legal action against Park Row

21 Apr 2010

A group of former Park Row advisers has set up a fighting fund to launch legal action against the firm.
Standard Life International appoints new CEO

21 Apr 2010

Nigel Dunne succeeds Audrey McLaren as chief executive of Standard Life International.
New action group plans to tackle Keydata third parties

19 Apr 2010

Keydata SLS LSC Investors’ Trust Action Group prepared to take legal action against institutional counterparties who were paid to protect investors’ assets.
Keydata: SFO now investigating Lifemark

16 Apr 2010

SFO yet to trace ultimate destination of all SLS funds but identified “sizeable proportion”.
HMRC tells Isa managers take no further action on kick-outs

16 Apr 2010

HMRC tells Isa managers not to take any more action to identify kick-out holdings until it has completed its review.
Action group aims to stop Spark renewal

16 Apr 2010

An action group is urging Spark venture capital trust shareholders to vote against a resolution to extend the life of the VCT by five years.
Consolidator offers options for IFA firms

16 Apr 2010

A new IFA consolidator is looking to take over client books or help firms adapt their business model ahead of the retail distribution review.
Kick out the plans

16 Apr 2010

Hannah Stodell reports that product providers are struggling to understand the HMRC’s kick-out warning
New mutual funds act for British Virgin Islands

15 Apr 2010

BVI enacts a new mutual funds and investment services act providing further legal and regulatory support.
F&C makes sustainable investment hire

14 Apr 2010

F&C adds senior GSI hire.
Lloyds and Soc Gen join UK Structured Products Association

14 Apr 2010

UK Structured Products Association announces two new members.
Budget could boost buoyant VCTs

9 Apr 2010

Venture capital trust expert Martin Churchill says the VCT market is on track to raise £300m for the last tax year.
FSCS bases Keydata quiz for investors on effects of misleading literature

9 Apr 2010

The Financial Services Comp- ensation Scheme is quizzing Keydata investors seeking compensation for their losses about the firm’s representations of third parties in its market- ing literature.
Deloitte grilling Keydata victims by phone on literature claims

8 Apr 2010

Advisers have raised concerns about Deloitte calling Keydata clients on behalf of the Financial Services Compensation Scheme to verify information they supplied as part of their claims.
Firms check kick-out plans after tax alert

8 Apr 2010

Structured product providers are reviewing kick-out plans after a HM Revenue & Customs’ warning that some plans may have been wrongly promoted as Isa-eligible.
Pay levy now and hope for refund

8 April 2010

Aifa is advising IFAs to pay the Financial Services Compensation Scheme £80m interim levy with the hope that payments will be rebated if the decision is overturned through a legal challenge.
Aifa says pay FSCS levy and hope for refund

7 Apr 2010

Aifa advises IFAs to pay their share of the £80m interim levy in the hope that money will be refunded should the decision be overturned.
Gartmore faces SEC inquiry

6 Apr 2010

Gartmore under investigation by US regulator but insists Guillaume Rambourg and Roger Guy are not involved in the inquiry.
Caution needed with Qnups

1 Apr 2010

Guernsey Qrops provider Concept Group is urging advisers to approach qualifying non-UK pension schemes with caution until HM Revenue & Customs provides more clarity.
FSCS adds structured bill to levy on advisers

1 Apr 2010

’Why should retailer have to stump up for manufacturing fault?’
IMA urged to add sectors after bringing in offshore funds

1 Apr 2010

Fund managers and advisers have called for the Investment Management Association to set up more sectors after announcing that offshore funds will start to be added to the existing sectors this month.
FSA charges seven with insider trading

1 Apr 2010

FSA accuses seven men of obtaining £2.5m of profits through insider trading.
Fight goes on as FSCS rejects protests and increases levy

1 Apr 2010

Aifa awaits legal opinion while Regulatory Legal looks to launch a Judical Review after FSCS refuses to back down over levy.
Deadline is welcomed for re-reg

1 April 2010

Advisers have welcomed the FSA’s aim to force platforms to allow assets to be re-registered off their platform by the time the RDR is implemented.
80% of IFAs support Aifa legal challenge against FSCS levy

31 Mar 2010

IFAs show strong support for an Aifa legal challenge against FSCS £80m levy.
Blue Sky launches new growth plan strategy

31 Mar 2010

Structured product provider Blue Sky launches enhanced growth plan FTSE 100 series.
Deloitte requests more info from Keydata claimants on KPMG

31 Mar 2010

Deloitte asks Keydata clients for more information about the firm’s representations made about KPMG.
Royal London posts £404m profit

31 Mar 2010

Royal London allocates £25m mutual dividend for with-profits members.
Midas Capital sells subsidiaries to MitonOptimal

31 Mar 2010

Midas Capital offloads MCI and MCAM to refocus on UK business.
Lloyds quashes talk of ousting chief

30 Mar 2010

Eric Daniels to stay on in job for at least another year, reports.
Royal Commission for elderly care proposals

30 Mar 2010

Commission to consider when and how fee should be applied to fund social care.
OFT fines RBS £28.5m for breaching competition law

30 Mar 2010

RBS fined for disclosing pricing information to Barclays bank.
FSCS adds Lehman structured product claims to adviser Keydata levy

29 Mar 2010

Aifa says it will now explore other avenues to overturn the decision as advisers hit with £80m FSCS levy.
Greece prepares bond issue

29 Mar 2010

Greece mulling £4.5bn bond issue.
Henderson posts £15.5m pre-tax profits

29 Mar 2010

Dividend remains at 6.1p as firm extends policy of bonus deferrals to three years.
RDR: Adviser fund charges must be in line with competing products

26 Mar 2010

The FSA outlines stricter rules for charging for advice relating to distributor influenced funds.
RDR: FSA looks to make re-reg compulsory by RDR deadline

26 Mar 2010

FSA looks to make re-reg compulsory by December 31, 2012 due to the potential for customer detriment.
Luxembourg Court grants liquidation of SLS and LSC

26 Mar 2010

SLS Capital and LSC to be liquidated - liquidator says no assets appear to remain.
Merchant Cap in Keydata discussions

26 Mar 2010

Merchant Capital is in talks with Keydata administrator PricewaterhouseCoopers over the sale of its structured products book and residual third-party administration, Money Marketing understands.
BUDGET 2010: Tax avoidance move puts burden on IFAs

26 Mar 2010

Experts have warned that the Government’s tougher disclosure obligations on tax avoidance schemes will put increased requirements on IFAs and will be difficult to police.
UK signs tax information exchange agreement with Belize

25 Mar 2010

UK signs tax info exchange agreement with Belize.
BUDGET 2010: Expert warns of clampdown on employee benefit trusts

25 Mar 2010

Trust and estate practitioner Paul Willans warns of Government action against trusts and special purpose vehicles that reward employees.
Four-year freeze poses IHT threat

25 Mar 2010

The last Budget of this Parliament has frozen the inheritance tax nil-rate band for the next four years which will mean that more estates will suffer an inheritance tax charge on death.
Advisers ask why FSCS rejects non-Isa claims

25 March 2010

Keydata clients turned down for compensation
BUDGET 2010: Govt announces new measures to combat tax evasion

24 Mar 2010

Govt announces it is ready to sign three new information agreements with Dominica, Grenada and Belize.
BUDGET 2010: No increase to CGT, confirms Darling

24 Mar 2010

Darling confirms there will be no increase to the capital gains tax rate.
BUDGET 2010: Isa limits to rise annually with inflation

24 Mar 2010

Isa limits to rise in line with inflation annually.
Octopus hires head of relationship management and partnerships

24 Mar 2010

Octopus announces new appointment.
FSCS clarifies no deadline for SLS claims after blunder

23 Mar 2010

FSCS confirms no time-limit applies for Keydata Category one claims after sending a letter stating forms had to be received by May 7.
SLI to boost alternatives with acquisition

23 Mar 2010

Standard Life Investments to take 75.1 per cent stake in fund of hedge funds manager Aida Capital.
Fidelity predicts corporate bond outflows for Isa season

23 Mar 2010

Latest Fidelity fund/sector stats show greater appetite for risk assets from investors.
Advisers question FSCS stance on non-Isa Keydata claims

22 Mar 2010

Several non-Isa Keydata clients receive rejections for compensation from the Financial Services Compensation Scheme.
Intrinsic reveals new chief executive

19 Mar 2010

Intrinsic Financial Services has promoted Richard Freeman to the position of chief executive.
Keydata Lifemark clients wait for restructure plan

19 Mar 2010

Hannah Stodell examines what the future holds for Keydata Lifemark investors.
RoyLon backs Europe for 35% return

19 Mar 2010

Royal London’s European gro-wth trust manager Kevin Lilley believes the European market has 35 per cent upside excluding dividends to the end of 2011.
Chartered Institute of Taxation warns Chancellor not to rush Finance Bill

18 Mar 2010

The Chartered Institute of Taxation urges Darling not to rush through significant tax measures without adequate scruitny in the “dying days” of the current Parliament.
Collins Stewart acquires Corazon Capital

18 Mar 2010

Collins Stewart acquires Corazon bringing assets under management to £6bn.
AES International gets first licence in Dubai

18 Mar 2010

International adviser firm AES International expands into the Middle East.
Guernsey Qrops providers to establish code of conduct

18 Mar 2010

Guernsey Qrops to publish code of conduct to raise standards on the island.
Acuity in row over VCT direct discount offer

18 Mar 2010

Adviser anger after Acuity Capital promises to rebate charges to clients who subscribe directly for a VCT “top-up”.
Difficulties with platforms delay CitiFirst fund launch

18 Mar 2010

CitiFirst has delayed the launch of its new Ucits III openended fund by a month and has halved the minimum investment.
Ignis says small caps will beat poll jitters

18 Mar 2010

UK smaller companies fund manager David Clark goes against the grain to suggest small caps will outperform.
Free seminars offer training courses on structured products

18 Mar 2010

Research tool website structuredproductreview.com is now offering free structured product training courses for advisers.
Meteor pulls out of Keydata bidding

18 March 2010

Meteor Asset Management has withdrawn its bid for Keydata’s structured products’ book and its associated administration, Money Marketing understands.
Six-year plan from Meteor

18 March 2010

Meteor Asset Management has launched the protected FTSE deposit plan, offering a potential growth payment of 45 per cent at maturity.
Cofunds apologises for Park Row letter

17 Mar 2010

Platform says sorry to ex-Park Row advisers after contacting their clients directly and encouraging them to find a new adviser.
Succession appoints Quilter to manage discretionary portfolios

16 Mar 2010

Quilter and Vestra Wealth to offer five risk-rated model investment portfolios.
Moneygate plans expansion after capital boost

15 Mar 2010

Moneygate unveils expansion plan after “significant” capital boost from MGT Capital Investments.
Meteor withdraws from Keydata bid

15 Mar 2010

Meteor pulls out of the race for Keydata investment book, Money Marketing understands.
T. Bailey increases exposure to Japan

15 Mar 2010

Multi-manager ups Japan weighting in its growth fund and passive equivalent.
Close appoints Nancy Curtin as CIO

15 Mar 2010

Ex-Fortune Asset Management CIO appointed new CIO of Close.
City firms targeted in damning Lehman’s report

15 Mar 2010

Linklaters and Ernst & Young deny accusations they masked billions of debt for Lehman Brothers prior to its collapse.
Fidelity's Kennedy calls for calm if CGT rate rises

12 Mar 2010

Fidelity International head of tax and trusts planning Paul Kennedy has urged investors not to be scared off if the Budget sees an increase in the rate of capital gains tax.
'Bentley Jennison knew Tenon faced enforcement'

11 Mar 2010

FSA enforcement no secret before the merger of the two firms.
Keydata was under fund firm regulator

11 Mar 2010

Firm at centre of £43m FSCS storm was under Imro before FSA.
Park Row advisers set to get FSA verdict

11 Mar 2010

Advisers split into categories by regulator to determine fate.
Hoban wants to end imperial tax system

11 Mar 2010

Conservative Shadow Treasury Financial Secretary Mark Hoban says the UK must move away from its “imperial” tax system to one which is more “territorial” if it is to improve its international competitiveness.
Tories' top aim is to scrap rise in NI payments

11 Mar 2010

The Conservatives are making a top priority of reversing the scheduled increase in National Insurance contributions.
Keydata plan bonds default

11 March 2010

Lifemark has issued a notice to bondholders declaring that several bonds underpinning Keydata plans have defaulted on income payments.
Schroders sees record inflows hitting £15bn

11 March 2010

Schroders took a record £15bn of inflows last year after outflows of £9.6bn in 2008.
Lowes Wealth Management launches distribution company

10 Mar 2010

Lowes Wealth Management launches new distribution company to promote fund range.
Simply Biz academy pilots discounted J0 training

9 Mar 2010

Simply Biz’s New Model Business Academy offers cut price JO training courses.
Strategic bonds gain traction, says Cofunds

8 Mar 2010

Strategic bond sector ranked third best selling sector on Cofunds last month.
Iceland voters reject Icesave deal

8 Mar 2010

93 per cent of Icelanders vote no to deal to repay UK and Netherlands depositors.
Advisers braced for China correction

5 Mar 2010

China: ‘Could be big hits and misses’
Rockingham in Rita risk row

4 Mar 2010

Advisers have raised concerns that Rockingham Retirement has understated the risks of traded life settlements in its Sipp marketing literature.
Whitechurch reduces UK growth holdings to zero

4 Mar 2010

Whitechurch Securities has cut its holding in UK long-only growth equities to zero for the first time within discretionary client portfolios.
FSA's Dewar warns of rising retail bond risk

4 March 2010

’Authorised firms will need to fully explain to their retail clients the potential risks associated with buying corporate bonds’
Insynergy in deal on absolute India fund

4 March 2010

Insynergy Investment Management has signed an exclusive investment management agreement with Reliance Capital Asset Management to launch an absolute India fund.
Invesco shake-up for fixed income

4 March 2010

Invesco Perpetual has reshuffled its fixed-income team.
Ailo will get international IFA views on rule changes

3 Mar 2010

The Association of International Life Offices has commissioned cross-border consultancy and research firm Acuity Consultants to engage with 20 key international advisers for its consultation into regulatory changes.
FSA unsettled by life settlement business

3 Mar 2010

Hannah Stodell reports on concerns over high rates of commission
Lifemark declares bonds in default

3 Mar 2010

Lifemark bond income payments frozen for 23,000 Keydata planholders.
£700K fine sets tone for FSA's Lehman action

3 Mar 2010

Hannah Stodell reports that the first regulatory moveagainst an adviser firm for misselling Lehmanbacked structured products could see £1.8m in redress payments
Hopes rise on FSCS Keydata levy

3 Mar 2010

Clarification by the Financial Services Compensation Scheme offers advisers glimmer of hope over £43m levy.
FSA sets out new rules for funds of alternative investment funds

26 Feb 2010

Regulator sets out new regime to allow greater access to alternative investments.
£8m misappropriated in Guernsey property fund

26 Feb 2010

£8m due to a Guernsey property fund has not been paid due to a misappropriation of monies.
Vestra aims to boost hedge ability for offshore funds

26 Feb 2010

Discretionary manager Vestra Wealth Management is looking to strengthen its hedge fund expertise to bolster the firm’s offshore range.
Invesco reshuffles fixed income team

25 Feb 2010

Michael Matthews and Stuart Edwards replace Paul Read and Paul Causer on five fixed income funds.
Insynergy teams up with Reliance to launch absolute India fund

25 Feb 2010

Insynergy teams up with Reliance Capital Asset Management for new fund launch.
Aifa wants to know legal basis for levy

25 Feb 2010

’Regulator should have stepped in far sooner’
Expat tax case hinges on law of gravity

25 February 2010

High-net-worth tax exiles are likely to face increased scrutiny from the tax office after a British entrepreneur based in the Seychelles lost a landmark court ruling last week.
Liontrust to offer absolute return fund

25 February 2010

Liontrust is preparing to launch an absolute return bond fund next week for head of fixed income Simon Thorp.
FSA warns on risks of increasing retail bond market access

24 Feb 2010

Regulator warns of risks of increasing retail access to bond markets.
FSA raises concerns over traded life settlements

24 Feb 2010

Regulator says it has uncovered “major flaws” in the marketing of products.
Hargreaves team with IG to offer spreads and CFDs

24 Feb 2010

Hargreaves to offer spread betting and CFDs through joint venture with IG Group.
Life Settlement industry draws up code as FSA interest grows

24 Feb 2010

European Life Settlement Association draws up practice code as FSA prepares to outline its concerns.
Aifa calls on FSCS to publish legal opinion on Keydata levy

23 Feb 2010

Aifa urges FSCS to publish legal opinion which led to £43m Keydata bill falling on investment advisers.
Law firm rounds up IFAs for FSCS challenge

23 Feb 2010

Law firm Regulatory Legal is garnering the support of IFAs to challenge the Financial Services Compensation Scheme’s £70m interim levy.
Pru to offer free investment seminars for IFAs

22 Feb 2010

Pru teams up with OBSR and O&M Solutions to offer free IFA seminars in March.
Adviser calls on politicians to help fight the £70m levy

19 Feb 2010

IFA Andrew Barnes urges Govt and Opposition MPs to act on FSCS £70m levy
Why a hung Parliament would be a disaster for the markets

19 Feb 2010

’Equity investors would just assume there would be policy stasis, infighting and indecision’
Ex-Cazenove partner took cash for share tips

18 Feb 2010

The Times reports of alleged insider deal profit of ex-Cazenove partner delivered in envelopes of cash.
AWD appoints training chief in level four drive

18 February 2010

Connolly: ‘Timetable of exam targets’
IFAs' anger grows over Keydata levy

18 February 2010

’Unfair’ bills set to hit investment advisers
Keydata cash could be in the rainforest

18 February 2010

Assets may have been used to buy land in Brazil
Threadneedle poaches RWC’s Chris Kinder

17 Feb 2010

Threadneedle boosts UK equities team with new hire from RWC Partners.
Regulator extends Lifemark administration by 6 months

16 Feb 2010

KPMG given six more months to work on a restructuring plan for Lifemark which underpins Keydata life-settlement plans.
Keydata missing assets trail could lead to rainforest

16 Feb 2010

Rainforest investments made by SLS founder David Elias may be the key to recovering Keydata’s missing assets, according to an insurer which invested in SLS.
Marlborough rebrands Quantock UK growth fund

15 Feb 2010

Marlborough Quantock UK growth fund to rebrand as UK primary opportunities fund.
Iceland to resume Icesave talks

15 Feb 2010

Iceland expected to reopen talks with Britain and Netherlands to deal with £3.5bn Icesave bill.
With-profits not suitable for 9 out of 10 people, says research

12 Feb 2010

Skandia polls 600 advisers for their opinions on with-profits.
Octopus puts EIS on hold at fears of Revenue rule changes

11 Feb 2010

Octopus Investments has temporarily closed its enterprise investment scheme to new investment amid uncertainty over HM Revenue & Customs’ interpretation of EIS legislation.
Offshore firms back UK after Aviva exit

11 Feb 2010

Offshore providers have asserted their commitment to the UK market following the news that Aviva is pulling its offshore bond business due to insufficient demand.
Skandia launches online Isa tool

11 Feb 2010

Isa tool launched by Skandia to help advisers identify unused allowances for the tax year.
Fund of fund sales highest on record, says IMA

11 Feb 2010

Funds under management for fund of funds for 2009 had highest year end on record.
Anger at Axa contacting bond clients direct

11 Feb 2010

Advisers have hit out at Axa over an initiative to call investment bond customers directly, claiming it is trying to bypass IFAs.
Ascentric admin charge move

11 Feb 2010

Ascentric is planning to introduce an admin charge from April for funds on its platform with low assets under administration.
Panthera aims to link with Malta firm for Qrops push

11 Feb 2010

Qrops promoter Panthera is looking to sign a distribution agreement with a trust company in Malta for a qualified recognised overseas pension scheme.
Vestra Wealth to run WAY green fund of fund

10 Feb 2010

Vestra to act as independent manager for green fund of fund.
Threadneedle’s Harrison sends out hung Parliament warning

10 Feb 2010

Threadneedle’s head of UK equities says investors would react badly to a hung Parliament.
Meteor confirms acquisition of NDF/DRL books

8 Feb 2010

Meteor deal to acquire structured product providers NDF/DRL confirmed.
Aviva pulls out of offshore bonds

8 Feb 2010

Aviva Life International closes offshore bonds to new business following fall in demand from the UK market.
Rathbones opens office in Aberdeen

8 Feb 2010

Rathbones increases Scottish footprint with a new office opening.
Lowes in plea for structured training

5 Feb 2010

Lowes Financial Management managing director Ian Lowes has called for a more formal assessment of structured products to help raise understanding among IFAs.
Firms hit back at Hargreaves

5 Feb 2010

Providers and advisers have rebutted recent comments made by Hargreaves Lansdown chief executive Peter Hargreaves that structured products should be outlawed.
Portfolio tools could leave IFAs exposed to UK gilt risk

5 Feb 2010

JP Morgan Asset Management head of UK retail sales Mike Parsons has warned that IFA portfolio tools could leave clients overly exposed to UK gilts.
SimplyBiz in Verbatim link-up with multi-managers

5 Feb 2010

SimplyBiz is partnering with multi-managers at five investment firms, including Henderson New Star, Ignis, Architas and Schroders, to run funds for its new investment firm Verbatim.
Ignis enters into partnership with Castle Hill

4 Feb 2010

Ignis takes 49 per cent stake in credit investment manager Castle Hill.
New wealth manager launches

4 Feb 2010

Wealth manager revives historic name of Albert E Sharp.
Macquarie global plan fails to launch

4 Feb 2010

Macquarie Funds Group has failed to raise sufficient funds for the launch of its first structured product in the UK market.
Meteor makes move to buy Keydata investment book

4 Feb 2010

Meteor is understood to be the front runner to acquire the investment book of Keydata’s own structured products and associated admin.
Lifemark clients wait for bond decision

4 February 2010

Over 20,000 clients with Keydata plans invested in Lifemark have been left in limbo after news that Lifemark is seeking to change its bond terms and conditions to avoid paying interest.
Myners admits 50% tax will flop

4 February 2010

Myners: ‘Behavioural changes’
Providers call for FSA to clear up RDR issues over deposits

4 February 2010

Product providers have urged the FSA to address issues relating to structured deposits which have fallen outside the remit of the retail distribution review.
Regulator rethinks adviser-charging for platforms

4 February 2010

The FSA is to review its approach to platforms following concerns from the asset management industry about the implementation of adviser-charging.
'Shed light on credit risk'

4 February 2010

Investec head of intermediary sales for derivatives and structured products Gary Dale says the FSA needs to make a clearer distinction between counterparty and investment risk in its review of structured products.
SFO drops case against UK arm of Madoff scheme

2 Feb 2010

SFO says there is “insufficient evidence” against Madoff Securities International and its directors for a conviction.
Lifemark looks to stop income on Keydata plans

1 Feb 2010

Lifemark securities suspended on Luxembourg Stock Exchange as firm seeks to restructure its debt.
Amati Global Partners acquires Noble Fund Managers

1 Feb 2010

Amati Global Partners acquire VCT manager.
JOHIM and Credit Suisse team up for UK funds launch

29 Jan 2010

JOHIM and Credit Suisse launch two UK large-cap funds.
FSCS announces new chief executive

29 Jan 2010

FSCS appoints ex-Treasury’s Mark Neale as new CEO.
Offshore tax dodgers face £100m bill after court ruling

29 Jan 2010

Ruling victory for HMRC on offshore scheme.
Keydata income cash is being processed

29 Jan 2010

Administrator PricewaterhouseCoopers has confirmed that outstanding investor income payments relating to Lifemark have now been received by Keydata and are being processed.
AVD UK targets £100m in first year

28 Jan 2010

AVD looks to raise £50-100m in its first year of trading.
Blue Sky forecasts structured product annual sales to reach £84bn by 2020

28 Jan 2010

Blue Sky is forecasting strong growth for structured products.
Strategic review for structured provider

28 Jan 2010

Gilliat Financial Solutions, the structured product arm of the Arbuthnot Banking Group, has undertaken a strategic review which may lead to redundancies.
Tranche-based plans will be hit by Ucits III

28 Jan 2010

The specialist structured product consultancy says traditional debt securities-based products could fade out by the end of the year.
Close appoints new CFO

28 Jan 2010

Close Asset Management hires Paul Chambers as its new chief financial officer.
FSA to reassess approach to platforms

28 Jan 2010

The FSA is to re-review its approach to platforms following concerns from the asset management industry about the implementation of adviser charging.
SimplyBiz sets up new investment firm

28 Jan 2010

SimplyBiz is setting up a new investment firm next month.
Corporate insolvency could rise by 20%

28 January 2010

Accountancy firm Carter Backer Winter partner John Alexander says corporate insolvencies could rise by as much as a fifth this year.
Investors reject Gartmore Japan funds' merger

28 January 2010

Gartmore shareholders last week voted against proposals to merge its £24m Japan opportunities fund into the forthcoming Japan absolute return fund.
Pru and OBSR link on five risk-rated funds

28 January 2010

Prudential has launched five risk-rated multi-asset funds in partnership with Old Broad Street Research.
FSA warns on structured product “mismatches”

27 Jan 2010

FSA’s Dan Waters issues an update on regulatory trends and priorities for the asset management industry following the financial crisis.
Where next for structured products?

25 Jan 2010

Your structured product questions put to providers this week.
Anger at move to raise Acuity directors' pay

21 Jan 2010

Advisers have hit out at the Acuity proposals to double director remuneration following the proposed merger of two venture capital trusts.
Pension funds 'gamble' with stock loans

21 Jan 2010

Former pensions minister Frank Field has warned The Pension Regulator that pension fund custodians are “gambling” with assets by loaning stock without trustees’ knowledge or consent.
£500m transferred to Qrops

21 Jan 2010

AJ Bell says penal ASP rates are driving people into overseas pension schemes.
Administrator takes 3% from Arc accounts

21 Jan 2010

Advisers are angry at administrator Carter Backer Winter’s move to deduct money from client accounts to cover admin costs for the insolvent structured product provider Arc Capital & Income.
Prudential launches five multi-asset funds

20 Jan 2010

Prudential has launched five risk-rated multi-asset funds in partnership with Old Broad Street Research.
IMA welcomes tax proposals for offshore funds

20 Jan 2010

IMA welcomes draft rules that will remove 20 per cent tax from investments by UK authorised funds in non-reporting offshore funds.
Thames River expands global credit team

20 Jan 2010

Thames River appoints senior trader to global credit team.
Cazenove Capital assets up 27% at year end

19 Jan 2010

Cazenove reports strong inflows into investment funds business.
Morgan Stanley to launch structured product through Oeic platform

18 Jan 2010

Morgan Stanley unveils FTSE-linked Ucits III structured product.
Douglas Ferrans appointed as IMA chairman

18 Jan 2010

IMA chairman, deputy chairman and board member appointed.
Is it finally Japan's year?

15 Jan 2010

Hannah Stodell asks if Japan will be a surprise hit
Pada builds Nest on personal accounts

14 January 2010

The Personal Accounts Delivery Authority has revealed the personal account pension scheme is to be rebranded the National Employment Savings Trust.The working title of personal accounts will be replaced by Nest as the consumer brand for the pension saving scheme aiming at low to moderate earners. Pada says the cost of the rebranding exercise, including the research undertaken to come up with the name is £363,000.Nest will be run by the Nest Corporation, a not-for-profit ...
PwC draws fees of £1.74m for Keydata administration

8 Jan 2010

PwC takes £1.74m in fees for work on Keydata so far; accrued time costs total £4.68m.
Personal accounts renamed National Employment Savings Trust

7 Jan 2010

Pada says cost of rebrand to Nest is £363,000.
Amnesty could fail to meet HMRC expectations

7 Jan 2010

PricewaterhouseCoopers has warned that HM Revenue & Customs’ latest offshore tax amnesty may yield a modest return due to low take-up.
Meteor is confident on NDFA and DRL asset deals

7 Jan 2010

Structured product provider and administrator Meteor Asset Management says ongoing complaints against the company relating to Lehman-backed plans will not affect its deal to acquire assets from NDFA and DRL.
Zurich appoints new CEO for Life business in Middle East

7 Jan 2010

Zurich appoints new CEO in Middle East.
Advisers pressing PwC for update on Keydata payments

7 Jan 2010

Advisers are urging administrator PricewaterhouseCoopers to provide information on delays to income payments due to investors with Keydata plans invested with Lifemark.
Property tops fund sales league again

07 January 2010

Property was the most popular retail sector for investors for the second consecutive month in November.
Merchant Investors launches offshore bond

6 Jan 2010

Merchant Investors unveils new offshore bond in conjunction with Royal London 360.
Control centre for client cash

6 Jan 2010

Chris Salih and Hannah Stodell report on plans for a new body to regulate how firms deal with client money
PwC estimates 13,000 admit to unpaid tax offshore

6 Jan 2010

Around 13,000 people are estimated to have taken advantage of Govt tax amnesty.
Iceland president vetoes Icesave bill

5 Jan 2010

Iceland’s president calls for referendum on Icesave bill following public opposition.
Aberdeen in talks to buy RBS fund unit

5 Jan 2010

Aberdeen eyes up RBS fund division, reports suggest.
Aviva acquires US equity manager River Road

5 Jan 2010

Aviva buys Kentucky-based equity manager.
CTFs not reaching most needy, say Tories

4 Jan 2010

Tories says child trust funds are failing poorer families.
Iceland faces opposition on Icesave payouts

4 Jan 2010

Thousands of Icelandic voters petition against Icesave payout.
Meteor acquires NDF and DRL investment books

4 Jan 2010

Meteor to buy NDF and DRL investment books from administrator.
Perspective acquires Platinum Portfolios

22 Dec 2009

Perspective makes its 12th IFA firm acquisition.
Supertax on bonuses unlikely to breach human rights, warn MPs

22 Dec 2009

50 per cent bonus tax unlikely to breach human rights, says report.
Friends Prov International appoints regional sales manager for Middle East

22 Dec 2009

FPI announces appointment for Middle East region.
Barclays Wealth launches new lock-in plan

21 Dec 2009

Barclays unveils new structured product.
LSE acquires stake in rival trading platform

21 Dec 2009

LSE acquires controlling stake in trading platform to increase its presence in Europe.
HMRC confirms bonus tax will not hit non-banks

21 Dec 2009

Asset managers, stockbrokers and insurance companies escape Darling’s one-off 50 per cent tax on bank bonuses.
Aviva Investors expands structured product range

18 Dec 2009

Aviva to add third Oeic structure to product range.
PBR pessimism could lift the stockmarket in 2010

18 Dec 2009

Fidelity International head of UK retail sales Peter Hicks says the Government’s economic pessimism in the pre-Budget report could boost the stockmarket in 2010.
Former Octopus employee convicted of £110,000 fraud

17 Dec 2009

John Campbell has been given a 12 month suspended sentence and 200 hours of community service for a fraud committed against the company.
AIC appoints Ian Sayers as director general

17 Dec 2009

The Association of Investment Companies has appointed Ian Sayers as director general from January 1 2010.
Tory MP steps down from chair of Tullet Prebon pay committee

17 Dec 2009

Tory Michael MP Michael Fallon steps down as chair of Tullet Prebon’s remuneration committee.
IFAs face £50m Keydata costs

17 Dec 2009

Aifa is seeking legal advice following the Financial Services Compensation Scheme’s decision to recover Keydata compensation costs from advisers rather than providers.
Octopus sets £500m target for absolute fund

17 Dec 2009

Octopus targets £500m for new alternative strategies fund.
SFO launches Kaupthing investigation after misrepresentation claims

16 Dec 2009

SFO probes affairs of failed Icelandic bank Kaupthing following suspicions over criminal activity.
RDR: FSA publishes list of 'no regrets' qualifications

16 Dec 2009

FSA outlines list of transitional qualifications for advisers.
Aifa seeking legal advice following news of Keydata IFA burden

15 Dec 2009

Trade body calls for review of FSA authorisation processes after FSCS classifies Keydata in the intermediation category.
Keydata FSCS claims may cost £50m- advisers hit with new levy

15 Dec 2009

FSCS warns of further levy as it estimates Keydata claims will cost the industry between £25m-50m.
Senior Tory on board of City brokerage looking to move overseas

15 Dec 2009

Tullet Prebon says its decision to help staff move overseas was not politically motivated despite the fact that Tory MP Michael Fallon is a member of its board.
Stellar launches tech EIS fund

14 Dec 2009

Stellar launches technology EIS fund.
F&C private equity acquires Landsbanki interests

14 Dec 2009

F&C’s private equity fund of funds division acquires Icelandic bank Landsbanki’s private equity fund interests.
Gartmore shares dip below offer price

14 Dec 2009

Shares in UK fund manager Gartmore sink below IPO offer price of 220p set last week.
FSCS to start paying some structured product claims

11 Dec 2009

FSCS to start paying out compensation claims against structured product providers NDFA, DRL and Arc Capital & Income.
1st - The Exchange raises software fees

11 Dec 2009

1st - The Exchange is increasing user and site licence fees for its Adviser Office software by 3.5 per cent from January 1, 2010.
JPM wants portfolio tools to add weight to emerging markets

11 Dec 2009

JPM calls on several IFA portfolio planning tool providers to raise weightings to emerging markets given the positive outlook for the sector.
Offshore swoop could miss serious evaders

11 Dec 2009

HMRC probe is only targeting those with a UK address who advisers say are unlikely to be the worst offenders.
OPM and Octopus in branding clash

11 Dec 2009

OPM Fund Management is taking legal advice over potential brand conflict with Octopus.
LGIM poaches F&C’s Paul Murray as head of investment risk

10 Dec 2009

LGIM hires new head of investment risk.
Insight to close five Oeics

10 Dec 2009

Insight to close five equity oeics in February pending FSA approval.
Ashburton Asia Pacific equity fund to focus solely on Japan

10 Dec 2009

Ashburton’s Asia Pacific equity fund rebrands as the Japan equity fund.
VCT firms fear increase in risk

10 Dec 2009

Matrix Private Equity Partners says current proposals could raise investment risk for VCTs.
T. Bailey to change benchmark on growth fund

10 Dec 2009

T. Bailey to change benchmark on its growth fund to help investors monitor performance.
Gilliat launches 50/50 deposit series

10 Dec 2009

Gilliat unveils deposit based product.
Corporate bonds could see a rush for the exit

10 December 2009

T Bailey has warned that corporate bonds could face potential liquidity problems following news that the sector saw only £11.8m in inflows in October.
Gaining brand trust could take two years for Jubilee

10 December 2009

Jubilee Financial Products head of distribution Ian Millward says it will take up to two years for the firm to be widely accepted by advisers as a structured product provider.
'No CGT change is just delaying the inevitable'

10 December 2009

Skandia head of tax and financial planning Colin Jelley says the Government’s decision not to raise capital gains tax is just “delaying the inevitable”.
Offshore tax evasion penalty doubles to 200%

10 December 2009

The Government has set out tough new measures to tackle offshore tax avoidance and evasion, including tax penalties of 200 per cent.
Schemes to be shut down in attack on IHT

10 December 2009

The Government has announced it will be closing down schemes which have been used to avoid inheritance tax through the use of trusts.It says it is also examining wider solutions to the issue of IHT avoidance through trusts.
PBR: Tough measures to tackle offshore tax evasion

9 Dec 2009

Darling to set out tough new measures to clampdown on offshore tax avoidance and evasion.
Property gains traction in November, says Cofunds

9 Dec 2009

Property lifts three places to finish as fourth highest selling sector last month.
Equity markets unfazed by Dubai crisis, says Skandia

9 Dec 2009

Skandia says economic consequences of Dubai appear “minor.”
L&G appoints head of third party sales

9 Dec 2009

L&G Unit Trust Managers announce sales appointment.
Moody’s warns Britain facing fiscal crisis

9 Dec 2009

Moody’s sounds alarm ahead of PBR.
BVI signs tax agreements with China and Ireland

8 Dec 2009

British Virgin Islands’ latest tax agreements bring total to 17.
Skandia hands £170m UK equity mandate to Investec

7 Dec 2009

Investec to manage £170m UK equity mandate.
Helvetia Wealth acquires two UK asset management firms

4 Dec 2009

Wealth manager Helvetia Wealth increases presence in UK with two acquisitions.
Bond strategy changes focus

4 Dec 2009

Hannah Stodell reports on a shift of emphasis
IFA accuses Aviva of bid to poach client

4 Dec 2009

Adviser says provider contacted his client two weeks ago without his consent to discuss retirement options.
NDFA to recommence income payments

3 Dec 2009

NDFA to recommence income payments within next few days.
Iveagh wealth fund launches Isa

3 Dec 2009

Iveagh Private Investment House, the Guinness family office, is to launch an independent stocks and shares Isa.
Pattullo sees boost for strategic bonds

3 Dec 2009

Henderson manager says strategic bond sector could rival corporate bonds in size.
Aifa assesses guidance impact

3 December 2009

Aifa is concerned about some of the assumptions made by the FSA in its guidance on the structured product market following its review of Lehman-backed plans.
Chatfeild-Roberts back in tech but warns of deflation in US

3 December 2009

Jupiter director of independent funds John Chatfeild-Roberts has warned that the US is facing a deflationary threat on a par with that of Japan.
Revenue extends final deadline for tax amnesty

3 December 2009

HM Revenue & Customs has announced a last-minute extension to its tax amnesty for offshore bank accounts.
Morgan Stanley launches structured Oeic for discretionary asset managers

1 Dec 2009

Morgan Stanley launches structured Oeic.
GLG managers to take charge of Asia Pacific fund

1 Dec 2009

GLG managers replace SG on GLG Asia Pacific fund.
WAY Group reports 20 per cent rise in IHT enquiries

1 Dec 2009

WAY Group IHT enquiries soar on back of market gains, property prices and City bonuses.
Newton changes benchmark on global dynamic bond fund

1 Dec 2009

Newton changes benchmark to show real returns as opposed to viewing a relative return against a customised benchmark.
Blue Sky launches target returns in flat markets

30 Nov 2009

Blue Sky unveils two new structured products.
Aifa concerned by FSA guidance on structured products

30 Nov 2009

Trade body has “real concerns” about the assumptions made by the regulator.
Succession appoints Ray Pierce as non-exec chairman

30 Nov 2009

IFA consolidation vehicle Succession has appointed Ray Pierce as non executive chairman.
Arc Capital and Income sold to Merchant Capital

27 Nov 2009

Arc to transfer to London-based Merchant Capital.
Standard Life to launch pan European property recovery fund

26 Nov 2009

Standard Life Investments is to launch a closed-ended pan European property recovery vehicle which will have a minimum investment of £50,000.
F&C’s Scott predicts sector rotation in 2010

25 Nov 2009

F&C stalwart Ted Scott offers his outlook for 2010.
JPM to change investment policy on sterling corporate bond fund

25 Nov 2009

JPM to make changes to sterling corporate bond fund from February 1.
Invesco considers strategic bond launch

25 Nov 2009

Invesco is understood to be considering a pure strategic bond launch to complement the existing product range.
Ian Shipway to join Chamberlain's Succession

25 Nov 2009

Former Bluefin’s Ian Shipway joins Simon Chamberlain’s IFA consolidation vehicle Succession.
After the fall

26 November 2009

Structured products have taken a battering. Hannah Stodell and Christopher Jarvis report on industry moves to repair some of the damage
Close property fund aims for 8% return

26 November 2009

Close Asset Management has set up an ungeared closed-ended residential property fund that aims for a capital return of 8 per cent a year through investment in English residential property let to lifelong tenants.
HMRC faces criticism over continuing delay for Gibraltar Qrops

26 November 2009

London & Colonial has complained that HM Revenue & Customs is wasting time and effort in continuing to delay approval of qualified recognised overseas pension schemes in Gibraltar.
HMRC spells out Qrops property ban

26 November 2009

HM Revenue & Customs has issued clarification that residential property is not a permitted investment within qualified recognised overseas pension schemes before or after the five-year reporting period.
RBS 90% tracker could be pivotal market point

26 November 2009

Advisers say Royal Bank of Scotland Intermediary Partners’ latest launch of a tracker at up to 90 per cent LTV could signal a turn-round for the market.
Skandia's Jelley anticipates CGT U-turn by Darling

26 November 2009

Capital gains tax, income tax for high-earners and pension tax relief are likely to be pre-Budget report targets, according to Skandia.
Structured launch faces struggle

26 November 2009

Advisers have warned that Macquarie will face an “uphill struggle” to gain traction in the UK structured product market following the FSA’s review of the sector and Keydata’s collapse.
Zurich Intl restricts distribution

26 November 2009

The insurer will only accept new business from certain overseas domains following a strategic business review.
Towergate launches multi-asset portfolios

23 Nov 2009

Towergate launches multi-asset portfolios with risk-rated outcomes.
Four adviser firms sign to Succession

23 Nov 2009

IFA consolidation vehicle Succession announces four adviser firms to join.
Bluefin’s Ian Shipway leaves firm

23 Nov 2009

Bluefin’s Ian Shipway leaves the company.
Cofunds and Threadneedle announce long term partnership

23 Nov 2009

Threadneedle to launch number of researched fund solutions.
Foresight launches environmental EIS and top up in VCTs

23 Nov 2009

Foresight unveils tax efficient investments.
BlackRock transfers real estate fund of funds to Aviva

20 Nov 2009

Firm transfers management of two funds of funds following the departure of lead manager.
Luxembourg regulator appoints provisional administrator for Lifemark

20 Nov 2009

FSA issues update on Lifemark, which issued bonds for several of Keydata’s products.
UK structured product association launches

19 Nov 2009

New structured product association launches in the UK.
Whitechurch survey reveals 20 per cent of IFAs seeking exit route

19 Nov 2009

Whitechurch survey shows 20% IFAs considering an exit from the market.
HMRC delays on Gibraltar Qrops issue unacceptable and peverse, says L&C

19 Nov 2009

London & Colonial attacks Revenue on delays to resolving Gibraltar Qrops issue.
Big rise in universities signing up for CII's careers roadshows

19 November 2009

The Chartered Insurance Institute has seen a 67 per cent increase in interest from universities wanting to take part in its graduate roadshow compared with last year.
Doubts remain as Keydata is put in default

19 November 2009

Advisers have welcomed confirmation from the Financial Services Compensation Scheme that it has declared investment firm Keydata in default but warn that uncertainty remains for some categories of investors.
F&C Fof chief plans property fund buys

19 November 2009

Dean Cheeseman looks to buy into commercial property.
Meteor to set up admin firm for structured plans

19 November 2009

Meteor Asset Management plans to create a new company to separate the admin function from the plan management promotion for its structured products.
Octopus Investments rewrites product literature

19 November 2009

Octopus Investments is overhauling its product literature in response to the FSA’s structured product review findings.
Whitechurch level 4 move

19 November 2009

Whitechurch Network is teaming up with Competent Adviser, the training and competence solutions provider, to help its members achieve QCF level four or equivalent.
Shareholder group attacks Hargreaves Lansdown's "excessive" bonus plans

18 Nov 2009

Hargreaves’ bonus plan opposed by shareholder rights group Pirc.
Lazard names Kenneth Jacobs as chairman and CEO

17 Nov 2009

Lazard announces successor to Bruce Wasserstein.
Standard Life Wealth appoints senior business development manager

17 Nov 2009

Standard Life Wealth appoints James England as senior business development manager.
Keydata declared in default by FSCS

13 Nov 2009

FSCS confirms Keydata is in default and it will consider compensation claims.
Meteor to segregate admin/plan management functions

13 Nov 2009

Structured product provider Meteor to launch separate regulated entity for admin/plan management to boost investor protection.
Nottingham Friendly Society to merge with Oddfellows

12 Nov 2009

NFS to merge with Oddfellows.
SFO to investigate Cayman Islands hedge fund

12 Nov 2009

SFO to investigate offshore hedge fund.
Banks setting up structured association

12 Nov 2009

Banks look to create a “single voice” for the structured products industry.
Lehman clause threat to IFAs

12 Nov 2009

Advisers could face multi-million-pound claims due to exclusions in PII policies.
Oxigen sets up forestry land fund

12 Nov 2009

New fund would buy forestry and agroforestry land across Brazil and Malaysia.
The shape of swings to come

12 Nov 2009

Hannah Stodell reports that fund managers are split on the strength or otherwise of the market rally
London & Capital hired as investment adviser to Age Concern

11 Nov 2009

L&C hired as investment adviser to charity, Age Concern.
Hedge funds to make headway with EU curbs

11 Nov 2009

Hedge funds expected to win ground on EU directive.
Global advisers predict rise in offshore sales

11 Nov 2009

Skandia International research into future offshore investment business.
TUC calls for 0.05% transaction tax on banks

11 Nov 2009

TUC calls for tax on banks to “pay their share” of the financial crisis.
Langridge guides global fund for Lloyd George

12 November 2009

Lloyd George Management has launched a global emerging markets fund for Kathryn Langridge.
Jubilee withdraws structured plan following FSA review

9 Nov 2009

Jubilee cancels early redemption plan issue 4 following consultation with external legal advisors.
Traded life settlement fund industry hits back at comparisons to US sub-prime scenario

9 Nov 2009

Policy Selection Limited argues that traded life settlement funds are a proven asset class when properly managed.
Lehman loses appeal of UK court ruling

6 Nov 2009

More delay for the repayment of Lehman assets to creditors after UK Court of Appeal rejects plan.
Premier’s Chris Wright seeks out yield in European telcos and utilities

6 Nov 2009

Premier’s Chris Wright sees value in Euro telcos and utilities
AWD widens product literature checks

6 Nov 2009

Firm to review providers’ product literature to other investment areas, not just structured products.
SVM utilises shorting in its UK opportunities fund

5 Nov 2009

SVM has started to utilise Ucits III wider powers in its UK opps fund.
IMA revises protected/guaranteed sector

5 Nov 2009

The IMA announces changes to the protected/guaranteed sector.
The sour taste of Lehman

5 Nov 2009

The FSA is to embark on a wide-reaching review into the structured product market after uncovering significant advice failings in nine of the 11 advice firms sampled in its probe into Lehman-backed plans.
Alliance Trust appoints finance director

5 Nov 2009

Investment firm Alliance Trust makes new appointment.
Childless cohabitees are set to get half their partner's estate

5 November 2009

The Law Commission is proposing to give unmarried childless couples who live together for two years automatic entitlement to half their partner’s estate if they die without a will.
How firms failed regulator's literature test

5 November 2009

Hannah Stodell takes a look at plan manager failings around marketing literature for structured products backed by Lehmans.
Newton's Russon looks for value in non-cyclicals

5 November 2009

Newton UK equities manager Ben Russon is seeking opportunities in non-cyclical parts of the UK equity market and is steering clear of financials and stocks with domestic consumer exposure.
Regulator is taking hindsight approach to counterparty risk

5 November 2009

Advisers have attacked the FSA’s decision to impose a retrospective review of the structured product market following its investigation into Lehman-backed plans.
Threadneedle's White has value view of banks

5 November 2009

Threadneedle financials specialist Chris White says banks could make a 15 per cent return on equity on a three to four-year view.
Towry Law paid £1 to buy £35m loss-maker Ed Jones

5 November 2009

Towry Law paid just £1 to take over the UK arm of Edward Jones which made a loss of £35m last year.
Headline rate chasing has no future in structured market, says Blue Sky

4 Nov 2009

Blue Sky Asset Management repsonds to the FSA review of the structured product market.
Barclays Wealth launches extra maturity option for structured plan

4 Nov 2009

Barclays Wealth launches new option for investors looking to roll over their capital.
St James’s Place hires ex-Maia’s Chris Ralph as CIO

3 Nov 2009

St James’s Place announces new investment appointments.
HMRC issues YouTube warning to offshore tax dodgers

2 Nov 2009

HMRC airs a warning to offshore tax evaders via YouTube.
Law Commission proposes inheritance rights for co-habiting couples

30 Oct 2009

Law Commission announces proposals to modernise inheritance rules.
Artemis rethinks VCT fees

29 October 2009

Artemis has bowed to pressure to revise the fee arrangements implemented in March after the merger of its VCT and Aim VCT 2.
Ascentric and Cofunds in dual platform deal with Towergate

29 October 2009

Ascentric and Cofunds are to white-label platforms for Towergate Financial as part of a dual platform strategy catering for different elements of its client base.
Banks get battering as FSA orders structured review

29 October 2009

Industry experts slam banks over structured product sales.
Bolton backs the bull to keep on running

29 October 2009
Cautious funds tipped for top

29 October 2009

The cautious managed sector came closer to challenging corporate bonds for the top spot in third-quarter fund sales, according to figures from Cofunds.
Davy slams Axa for approaching IFA client

29 October 2009

Davy hits out after Axa approaches his client without his knowledge.
Firms face huge cost of structured review

29 October 2009

The FSA has announced a far-reaching review of the structured product market and is enforcing retrospective business reviews on some of the biggest sellers which could cost millions of pounds.
Gartmore reckoned to be set for flotation

29 October 2009

Gartmore is reportedly being prepared for a stockmarket flotation that could take place before Christmas.
Lehman investors could lose out under FSCS compensation

29 October 2009

Investors in Lehman-backed structured products may receive less compensation through the FSCS than they would have done through the FOS, says compliance consultant Adam Samuel.
Pictet Funds appoints Emma Stenzel as sales manager

28 Oct 2009

Pictet expands UK retail team with a sales appointment.
FSA orders major structured products review - 3 advice firms face enforcement

27 Oct 2009

The FSA says it has found “significant advice failings” on Lehman-backed products in most of the financial advice firms sampled in its review.
Super-rich should be taxed more, says Buffett

27 Oct 2009

Warren Buffett says the super rich should give more back to society.
FSA confirms Arc Capital & Income in administration

26 Oct 2009

The FSA has announced that structured product provider Arc Capital & Income is going into administration.
Future of structured provider Arc in doubt due to Lehman plans

26 Oct 2009

The future of structured product provider Arc Capital & Income is in doubt with an imminent announcement expected, Money Marketing understands.
New fund to drive gender diversity

26 Oct 2009

High-profile backed fund launching to drive gender diversity in firms.
Ascentric and Cofunds to white-label Towergate platforms

23 Oct 2009

Towergate Financial is partnering with Investment Funds Direct Limited, Ascentric’s white-label brand to power its wealth platform.
Lehman investors fear redress setback

23 Oct 2009

Action group is worried investors will be put at the back of the queue.
Vanguard calls for clearer cost disclosure

22 Oct 2009

Vanguard’s head of retail outlines his views on the ‘TER’ debate.
Cautious managed sector returns to favour in Q3, says Cofunds

22 Oct 2009

Cautious managed sector gains momentum against corporate bonds, Cofunds’ latest figures show.
Gilliat launches AAA rated fixed income plan

22 Oct 2009

Structured product provider Gilliat announces the launch of a new AAA rated fixed income plan.
Gartmore may have IPO before Christmas

22 Oct 2009

Fund manager Gartmore is reportedly facing a stock market flotation before the end of the year.
PwC in talks with firm to take over Keydata admin side

22 october 2009

Administrator PricewaterhouseCoopers is understood to be in advanced talks with an interested party regarding the sale of Keydata’s admin business.
Witan chiefs to step down in management shake-up

22 october 2009

Witan Investment Trust chief executive Robert Clarke and chief investment officer Mark Lynam are stepping down after a management restructure.
Lehman terms

21 Oct 2009

The regulator’s review into Lehman-backed structured products has seen two firms go into administration
Arc restructure cuts compliance team

21 Oct 2009

Structured product provider Arc Capital & Income slims down compliance team with a restructure.
Calculus launches 10th EIS fund

21 Oct 2009

Calculus launches its tenth enterprise investment scheme fund.
Chancellor cuts Isle of Man budget by 24%

21 Oct 2009

Alistair Darling makes 24 per cent tax grab on Manx budget.
Dominion appoints Nick McCathie as MD

21 Oct 2009

Guernsey-based asset manager Dominion announces senior appointments.
Schroders secures long term pricing agreement with Cofunds

21 Oct 2009

Cofunds announces a long term pricing deal with Schroders.
PwC Lehman fees soar to £154m

20 Oct 2009

Fees for the winding up of Lehman Brothers in Europe near record highs.
Iceland to repay lost deposits

20 Oct 2009

Iceland reaches an agreement with the UK and Netherlands governments to repay billions of pounds of depositors lost money.
Landsbanki depositors call for public inquiry

19 Oct 2009

Landsbanki Guernsey depositors are demanding a public inquiry into the bank’s collapse.
Gartmore appoints Brian Mitchell as head of dealing

19 Oct 2009

Gartmore announces appointment of new head of dealing
IMA concerned by Walker Review proposals

15 Oct 2009

Trade body says goverance rules should be implemented through guidence rather via the combined code.
Witan CEO and CIO to step down

15 Oct 2009

Witan Investment Trust chief executive Robert Clarke and chief investment officer Mark Lynam are stepping down following a management restructure.
Franklin Templeton fixed income group hires research director

15 Oct 2009

Franklin Templeton Investments has appointed Sonal Desai, as director of research for its fixed income group international bond department.
Ex-New Star CIO Alan Miller attacks hidden charges totalling £5.8bn a year

15 Oct 2009

Former New Star chief investment officer Alan Miller has criticised “hidden charges” imposed by fund managers which push client fees to over £10bn a year, according to a Guardian report.
Pru International launches new cautious fund range

15 Oct 2009

Prudential International has launched a new Prufund cautious fund range for risk-averse investors.
NDFA/DRL investors may be entitled to FSCS cover

14 Oct 2009

Investors in NDFA/DRL may be covered under the FSCS, says the FSA
NDFA and DRL in administration, says FSA

14 Oct 2009

NDFA and DRL have entered administration, the FSA has confirmed.
NDFA: Advisers do not expect repeat of Keydata debacle

14 Oct 2009

NDFA’s administration is unlikely to be a re-run of the Keydata debacle, say advisers.
Opal to continue to administer NDFA structured plans

14 Oct 2009

Opal will remain the administrator for NDFA plans
Advisers call for absolute returns sector to be split

15 October 2009

Advisers have called for a split in the absolute returns sector, saying differing strategies are hindering a meaningful comparison of funds.
'Get rid of your government bonds'

15 October 2009

Schroders head of global fixed income Nick Gartside believes that a storm is brewing for government bonds and has warned investors to sell out of them.
NDFA on the brink of administration

15 October 2009

Structured product provider NDF Administration is likely to be placed into administration this week, Money Marketing understands.
Schroders' Buxton sees a winter of discontent

15 October 2009

UK equity managers are bracing themselves for strong economic headwinds in 2010, with Schroders’ Richard Buxton warning of a “winter of discontent”.
Threadneedle calls time on ailing fund

15 October 2009

Threadneedle is closing its UK money market fund following significant redemptions.
NDFA on the brink of administration

13 Oct 2009

NDFA is on the verge of being placed into administration, MM understands.
Octopus launches secure VCT

13 Oct 2009

Octopus Investments has launched a new venture capital trust designed to offer a high level of capital security and a clear exit for investors to release capital after five years.
Jersey companies list with Hong Kong Exchange

13 Oct 2009

Jersey companies have been approved for listing on the Hong Kong stock exchange.
Rathbones’ Bryn Jones predicts more rapid return to inflation

13 Oct 2009

Rathbone ethical bond co-fund manager Bryn Jones says inflation is likely to make a more rapid comeback than consensus suggests.
Schroders to drop Japan from far east income fund

13 Oct 2009

Schroders is dropping Japan from the benchmark of its far east income fund after struggling to find income in the region.
Former Kaupthing CEO named as suspect in fraud case

12 Oct 2009

Former Kaupthing chief executive Sigurdur Einarsson has been named an official suspect by Icelandic fraud prosecutors, according to a report in the Observer.
UK faces 'winter of discontent' in 2010, says Schroders’ Buxton

9 Oct 2009

Schroders head of UK equities Richard Buxton says the UK faces significant economic headwinds in 2010 and 2011.

Money MarketingHannah Stodell Editorial

Money Marketing
Hannah Stodell Editorial