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17 December 2008

Money Marketing

  • 900 gain certified financial planner qualification, says IFP

    19 December 2008

    The Institute of Financial Planning has announced that 900 advisers have now obtained the certified financial planner licence, with that number expected to hit 1000 in Q1 2009.

  • 94% Of funds fall over 2008

    18 December 2008

    Only 6 per cent of funds have produced a positive performance in 2008, according to Financial Express research.

  • A sub-primer to the crunch/ crisis/recession/ depression*

    18 December 2008

    A is for Applegarth, Adam. The boss of Northern Rock when it experienced the first run on a British bank in 100 years.

  • ABI does not expect FSA to force insurers to raise capital

    22 December 2008

    The Association of British Insurers says it does not believe the insurance sector will be forced to raise capital by the FSA.

  • ABI launches consultation into internal actuarial advice

    19 December 2008

    The Association of British Insurers has launched a consultation on guidance designed to help life insurers determine when they should seek external reviews of internally sourced actuarial advice.

  • AJ Bell interview: Sipps thrive through 2008 crisis cocktail

    23 December 2008

    AJ Bell marketing director Billy MacKay says the year’s cocktail of turbulent markets, bank bailouts and falling interest rates have allowed Sipps to come into their own.

  • Alan Cleary interview: Mortgage modification cheaper than repossession

    23 December 2008

    Exact managing director Alan Cleary has predicted the growth of mortgage ‘modifications’ in 2009 as owners of non-performing mortgage books look for longer-term solutions to arrears.

  • All in the blend

    18 December 2008

    In challenging market conditions, professional investors would be wise to frame their decisions within the context of a sensible long-term investment time horizon. The difficulty in predicting the movement of particular asset classes or sectors, such as technology or property, makes it imperative to invest in as diversified a fashion as possible across asset class, geography and investment style.

  • Architas appoints finance and commercial director

    23 December 2008

    Multi-manager investment firm Architas has appointed Jim Hardie as finance and commercial director.

  • Bestinvest cuts ratings on Rathbone's Carl Stick

    17 December 2008

    Bestinvest has removed its ratings on Rathbone fund manager Carl Stick's two funds, citing a poor three-year track record.

  • Broker Talkback

    18 December 2008

    Do you agree with Treasury Economic Secretary Ian Pearson that now is "not a bad time" to invest in the stockmarket?

  • Bruce Willis and Ringo Starr front Aviva campaign

    22 December 2008

    Aviva has hired Bruce Willis and Ringo Starr to front a high profile campaign to promote its move to the single Aviva brand.

  • Cap-ad changes will hit new model firms

    18 December 2008

    The Institute of Financial Planning says that adviser firms looking to move to a recurring income stream will be hit hardest by the FSA's proposed changes on capital adequacy.

  • CC deepens inquiry into IBS OPENSystems/Capita Group acquisition

    19 December 2008

    The Competition Commission has today published an issues statement as part of its inquiry into the completed acquisition of IBS OPENSystems by Capita Group.

  • CC deepens inquiry into IBS OPENSystems/Capita Group acquisition

    19 December 2008

    The Competition Commission has today published an issues statement as part of its inquiry into the completed acquisition of IBS OPENSystems by Capita Group.

  • Checkmate calls for the return of Mortgage Indemnity Guarantees

    22 December 2008

    Checkmate Mortgages have called for the return of some form of Mortgage Indemnity Guarantees, which were popular during the 1980’s.

  • CII and Aussie prof body merger scrapped over "financial discrepancies"

    18 December 2008

    The proposed merger between the Chartered Insurance Institute and the Australian and New Zealand Institute of Insurance and Finance has been terminated with both parties blaming the other for the deal’s collapse.

  • CII concern at board burden

    18 December 2008

    The FSA's proposed independent professional standards board will have failed if it becomes a second regulator, says the Chartered Insurance Institute.

  • CML predicts minus £25bn net mortgage lending, 500,000 in arrears in 2009

    18 December 2008

    The Council of Mortgage Lenders has stuck it head from behind the parapet and predicted grim 2009 mortgage figures, with net lending down to minus £25bn and 500,000 homeowners in arrears.

  • Consumer awareness will close £2.3tn protection gap, says Friends Prov

    22 December 2008

    Advisers must make consumers more aware of their protection needs in order to tackle the £2.3tn protection gap, according to Friends Provident head of protection marketing Mark Jones.

  • 'Cut premiums in line with exclusions'

    18 December 2008

    Lifesearch is calling on protection providers to reduce premiums in line with increases in exclusions.

  • Cycle paths

    18 December 2008

    Traditionally, now would be the time to proffer a review of 2008 but, to be honest, I am not sure I have the strength. Stockmarkets, house prices, sterling - everything most of us are quite happy to see tick gently ever upwards - have in fact plunged while seemingly only food prices and other bad stuff have headed in the opposite direction.

  • Dawn of the un-lender

    18 December 2008

    The political debate continues to hot up on what to do with the rapidly deteriorating housing market. The Government upped the ante recently with mortgage interest relief for the unemployed.

  • Decision timing

    18 December 2008

    Deciding whether people should stay in a qualifying pension scheme after 2012 is going to be tough. They will need the right information at the right time to help them make the right choice.

  • Disclosure needs demarcation

    18 December 2008

    Aifa has called for the regulator to rewrite the current disclosure regime to prevent tied advisers from passing themselves off as independent.

  • Education is key to correcting equity release myths

    19 December 2008

    I often get the impression equity release is seen as the quiet ‘back-water’ of the regulated advice industry in the UK. Apart from a handful of specialist advice firms most mainstream advisers seem to steer clear of equity release either viewing the area as too complicated or assuming there is no demand within their client bank for what they may view as a ‘distress’ purchase.

  • End the bonus culture at banks

    18 December 2008

    Sesame wants the FSA to create a level playing field by taking away bonus structures for bank staff who sell products, alongside moving advisers away from commission.

  • F&C to axe up to 99 jobs in £15m cost-saving programme

    17 December 2008

    F&C Asset Management is to cut between 60 -99 jobs as it looks to cut costs by £15 million or 10 per cent of its cost base.

  • Fears rise on bond fund suspensions

    18 December 2008

    Concerns are growing that some bond funds could be hit with suspensions if liquidity problems in the market continue.

  • Final-salary fears over solvency of firms

    18 December 2008

    Advisers need to weigh up the benefits of final-salary pension guarantees against the financial strength of the employers, given current market conditions, says Axa Winterthur.

  • Focus Solutions acquires The Coaching Platform Ltd

    23 December 2008

    Focus Solutions has acquired consultancy and training firm The Coaching Platform Ltd.

  • Four managers depart as Ignis' axe falls in Glasgow

    23 December 2008

    Ignis is looking to close its Japanese equities desk and has announced four high-profile redundancies as part of a job cutting programme within its Glasgow office.

  • Freedom Sipp closes to new business after an FSA reprimand

    23 December 2008

    Freedom Sipp has closed for new business after an FSA visit found the firm’s service was not up to scratch.

  • FSA aren't qualified to judge us

    18 December 2008

    Money Marketing of November 13 illustrates the contrast between the regulator and those it regulates - costs rise as the FSA takes case to the High Court.

  • FSA bans two brokers for failing to comply with rules

    23 December 2008

    The Financial Services Authority has banned two sole trader mortgage brokers for failing to comply with regulatory rules.

  • FSA fines two individuals for market abuse

    19 December 2008

    The Financial Services Authority has fined two individuals almost £20,000 for selling shares after receiving insider information on the stock prior to a public announcement.

  • FSA launches caveat emptor review

    19 December 2008

    The FSA has launched a discussion paper into how much responsibility consumers must take when making financial decisions.

  • FSA sends out warning on IDD and menu non-compliance

    19 December 2008

    A high proportion of firms’ initial disclosure documents and menus, designed using the FSA templates, fail to comply with requirements, according to the FSA.

  • FSA to scrutinize non-executive directors

    19 December 2008

    Non-executive directors of firms are likely to come under closer scrutiny from the FSA after it announced proposed amendments to the FSA handbook.

  • FSA warns public over firm

    17 December 2008

    The FSA has issued a consumer warning about an unregulated firm, Pure Money Limited, which has been offering mortgage, insurance and investment advice. The regulator is urging anyone who has arranged a mortgage, remortgage, insurance or investment through the company to contact the FSA.

  • Fund companies set for consolidation

    18 December 2008

    Ignis Asset Management sales and marketing director Jonathan Polin believes that a wave of consolidation will hit the asset management sector next year, with listed firms the most exposed.

  • Gartmore's King remains wary on UK market

    18 December 2008

    Gartmore investment manager Simon King says he will remain cautious on the UK stock market for the first half of 2009.

  • Gibraltar wins EU court case for fiscal autonomy

    19 December 2008

    Gibraltar has overturned the European Commission’s proposed reform to its corporate tax regime in a landmark court victory yesterday.

  • Govt scraps idea of interest on social loans after Tory "loan shark" attack

    22 December 2008

    The Government has ruled out controversial proposals to allow interest rates of up to 27 per cent to be charged on emergency loans after being accused of acting like loan sharks by the Conservatives.

  • Gross mortgage lending down 50% in November

    18 December 2008

    Gross mortgage lending dropped by more than 50 per cent year-on-year in November, according to the Council of Mortgage Lenders.

  • Heart of darkness

    18 December 2008

    New Star's problems intensified last week when Jamie Allsopp's Heart of Africa fund was temporarily suspended from trading.

  • Home delivery

    18 December 2008

    Dear Santa, I am writing to you with my Christmas wish list of all the things I would like to happen to the mortgage and housing markets in 2009.

  • IFAs get free online guide to CDS levels

    18 December 2008

    Jubilee Financial Products is publishing a weekly overview of credit default swap levels on its website to help advisers evaluate the counterparty risk of major UK issuers in the structured product market.

  • IMA moves on with review of all companies fund sector

    18 December 2008

    The Investment Management Association is to launch a review of funds in the UK all-companies sector.

  • IMA reveals best retail figures in over 18 months

    23 December 2008

    The IMA has unveiled its best net retail sales since May 2007 with over £1bn invested in UK domiciled assets.

  • Insurance sector has weathered economic storm, says Canada Life

    19 December 2008

  • Insurers look for wrap MBO

    18 December 2008

    Axa and Standard Life are believed to be backing a management buyout of FNZ, the technology provider behind both insurers' wraps.

  • Interaction stations

    18 December 2008

    Apparently, the FSA is unhappy at industry reaction to the RDR feedback statement. They appear to be suggesting that by not pleasing any particular sector, they have created an acceptable balance. Evidently, they choose not to consider the other possibility - that such antipathy denotes an awareness that the proposed actions cannot achieve the desired outcomes.

  • IoM approves principle of early payment scheme for KSF IoM depositors

    18 December 2008

    The Isle of Man parliament has approved the development of an early payment scheme for to help depositors with Kaupthing Singer & Friedlander Isle of Man.

  • Knight may hold off to 2011

    18 December 2008

    Checkmate Mortgages executive chairman Stephen Knight says he will wait until 2011 if he has to before launching the firm.

  • L&G eyeing up mortgage distribution acquisitions

    17 December 2008

    Legal & General says it will be looking to acquire mortgage distribution channels in 2009 as part of its growth strategy.

  • Libor spread still too high for lenders

    18 December 2008

    Three-month Libor has dropped to 3.13 per cent, a fall of 75 basis points since the start of the month. Mortgage lenders welcome the drop but say the 1.13 per cent spread is still too much to improve rates drastically.

  • libor spread still too high for lenders

    17 December 2008

    Three-month Libor has dropped to 3.13 per cent, a fall of 75 basis points since the start of the month. Mortgage lenders welcome the drop but say the 1.13 per cent spread is still too much to improve rates drastically.

  • Lloyd George to close emerging markets offerings

    22 December 2008

    Lloyd George has applied to the FSA to close two of its emerging markets funds.

  • Loans from bailed-out banks £48 a month more expensive, says mform.co.uk

    23 December 2008

    Mortgages from lenders that have received help through the Government’s bail out of the banking system are on average £48 per month more expensive, research by mform.co.uk.

  • M&G trust offers investors options

    17 December 2008

    The board of the £124m M&G recovery investment trust has published proposals for the wind-up of the company, offering investors either a cash exit, a rollover into another trust or investment in an M&G Oeic.

  • Magical Unicorn

    18 December 2008

    Smaller company funds in general have fared worse than UK equity funds over the past five years or so. However, the top performing smaller company funds, where real skill is required, have performed much better than the top performers in the UK equity sector.

  • Max Bupa Health Insurance appoints first chief executive

    17 December 2008

    Max Bupa Health Insurance, the joint venture between Bupa UK and Max India Ltd, has appointed Dr Damien Marmion as its first chief executive officer.

  • McFall falls victim to PPI "harassment" by bank

    17 December 2008

    Treasury select committee chairman John McFall has revealed that he has had personal experience of pressurised payment protection insurance sales.

  • Merricks says FOS acting as a surrogate regulator

    18 December 2008

    It may be "inescapable" that the Financial Ombudsman Service acts as a surrogate regulator due to a surge in single-issue complaints, claims chief ombudsman Walter Merricks.

  • Mixer taps

    18 December 2008

    Recent stockmarket falls have raised concerns about my retirement. The value of my investments is down but I also use them for income. How can I ensure that my income is sustainable?

  • Moneysupermarket.com founder steps down as chief executive officer

    18 December 2008

    The founder of Moneysupermarket.com is stepping down as chief executive officer to take on a new role as executive deputy chairman.

  • More delay on Equitable Life

    18 December 2008

    The Government has come under attack for delaying its response to the Parliamentary Ombudsman's Equitable Life report until after Christmas.

  • Mortgage arrears at eight-year high

    17 December 2008

    Prime mortgage arrears have rocketed, according to rating agency Standard & Poor's. Overall, prime mortgage arrears on UK RMBS are at the highest they have been for eight years.

  • Mortgages for house purchase down 60%, says BBA

    23 December 2008

    Mortgage approvals for house purchase dropped 60 per cent in November compared to the same month last year to a new low of 17,773.

  • MPC considered sub 2% base rate

    17 December 2008

    The Monetary Policy Committee considered dropping Bank base rate by more than 1 per cent during its last meeting.

  • Munich Re acquires AIG's HSB Group for £501m

    22 December 2008

    Munich Re has agreed to acquire insurer Hartford Steam Boiler from AIG for £501m.

  • Munich Re JP Morgan's top insurance pick

    17 December 2008

    JP Morgan has touted Munich Re as its top insurance pick for investors.

  • Nationwide and Halifax ditch forecasts

    19 December 2008

    Nationwide and Halifax are to ditch their annual forecasts thanks to the turbulence of this year’s markets and the predicted turbulence of next year.

  • Nectar card tycoon takes stand against Coutts over AIG advice

    19 December 2008

    Sir Keith Mills, the tycoon behind the Nectar card, has launched an attack at Coutts & Co. after the private bank advised him to keep his AIG savings bonds.

  • New kids on the block can shock the slumbering giants

    18 December 2008

    I believe that the present reduction of terminal bonuses is a scandal and totally disgraceful.

  • New model barmy

    18 December 2008

    The FSA's planned changes to the capital adequacy requirements show an inherent bias in favour of old-style firms and against new-style and financial planning models. I am sure this bias is unintended, as it is contrary to all other recent work by the regulator.

  • NU returns £10m of unclaimed cash to customers

    22 December 2008

    Norwich Union has returned £10m worth of unclaimed cash to over 3,500 customers.

  • Only 8 per cent of single people have IP cover, reveals Zurich

    17 December 2008

    Research from Zurich has revealed less than one in ten single consumers have any form of income protection.

  • Pension corp insures Merchant Retail Group's scheme

    19 December 2008

    Pension Corporation's insurance subsidiary Pension Insurance Corporation has agreed to insure the Merchant Retail Group pension scheme.

  • Practical way to boost training

    18 December 2008

    Additional practical training is needed alongside the retail distribution review's higher professional qualification requirements, says Positive Solutions.

  • Prestbury slapped with winding up order after being hit by provider clawbacks

    18 December 2008

    A winding up order was granted against Prestbury yesterday after the firm was unable to pay creditors.

  • Price tags

    18 December 2008

    Bad news seems to dominate these days but within the world of retail funds it is not looking as bleak as many would assume. Fund groups are reporting that, in the main, investors are staying put - particularly those using advisers - and redemptions are not as high as market conditions tend to suggest.

  • Professional body ANZIIF hits back at CII

    19 December 2008

    The Australian and New Zealand Institute of Insurance and Finance has hit back at the CII over its allegations that the professional body concealed financial information prior to a planned merger.

  • Protection ban for brokers

    17 December 2008

    The Competition Commission has revealed that advisers and brokers are to be included in the proposed PPI point of sale ban.

  • Providers face projection probe

    18 December 2008

    Friends Provident, Prudential, Clerical Medical, Norwich Union, Scottish Life, Scottish Widows and Aegon Scottish Equitable could all be grilled by the regulator for misusing standard projection rates for cash funds within a pension.

  • Qwerty dancing

    18 December 2008

    Mobile phones are ubiquitous across financial services. Many people carry two, one as a phone, the other a data device,such as a Blackberry or equivalent. I have long believed that increasingly powerful mobile communications devices are likely, at some stage, to remove the need for people to carry around several kilos of laptop.

  • Relief map

    18 December 2008

    The new 45 per cent income tax rate announced in the pre-Budget report caused many a journalist to scurry for their pen, keyboard or dictating machine to pour out their hearts on the merits of investing in a registered pension scheme, including the apparently obvious opportunity for salary sacrifice with even greater tax and National Insurance benefits than under the current regime.

  • Retail-funded providers to take over lifetime lead

    18 December 2008

    Retail-deposit-funded equity-release providers could start to take charge of the lifetime mortgage sector next year.

  • Retirement savings rates to remain stable in next decade, says FSA

    22 December 2008

    Two thirds of families approaching retirement hold some form of cash savings products and 38 per cent have an investment product, according to research by the FSA.

  • Road to 2012

    18 December 2008

    Much of the focus following the publication of the retail distribution review feedback report has probably been in the wrong areas. Instead of looking at the positives, some commentators have going round in ever decreasing circles of ranting and unhelpful contributions. This simply moves everybody backwards or at best sideways.

  • Sants points finger at IFAs over offshore bond sales

    18 December 2008

    FSA chief executive Hector Sants has urged consumers to pursue cases of suspected offshore bond cash deposit misselling against IFAs while suggesting that product provider marketing literature was clear.

  • Savills releases profit warning

    17 December 2008

    Savills has issued a profit warning ahead of its full year results due to significantly restricted business in its mortgage broking arms.

  • Schroders CFO to step down

    17 December 2008

    Schroders chief financial officer Stephen Brooks is leaving the firm in the first quarter of 2009 to pursue other interests.

  • Sesame to take on Premier Network Group appointed reps

    18 December 2008

    Sesame is set to take on mortgage network Premier Network Group’s remaining 37 appointed representative firms.

  • Ship expecting exits and entrants in equity release

    18 December 2008

    Ship says it expects a number of providers to leave the equity-release market in 2009 although it believes they will be replaced by new firms.

  • Short selling restrictions show little global impact, says Aima research

    17 December 2008

    There is no strong evidence that the emergency short selling restrictions imposed in various markets around the world have changed the behaviour of stock returns, according to joint research published today.

  • Simplybiz plan is termed 'premature'

    17 December 2008

    Threesixty has labelled SimplyBiz's plan to provide funds to help its members meet higher capital-adequacy requirements as premature. SimplyBiz says it is acting quickly to support the IFA sector.

  • Soc Gen to sell London asset arm to GLG

    19 December 2008

    Société Générale Asset Management is selling its London-based asset management subsidiary to GLG Partners.

  • Soft sterling brings big rise in PI premiums

    18 December 2008

    Professional indemnity insurance premiums will rise by 15 to 20 per cent next year or double that if the market hardens after the FSA confirmed it will raise minimum cover requirements, says PYV.

  • Split decision

    18 December 2008

    Risk is always subjective. Years ago, zeros were deemed low risk but they turned out to be anything but. Yet now it has emerged that the Financial Services Compensation Scheme has different ideas.

  • Standard Life to cut 37 jobs in marketing

    17 December 2008

    Standard Life is the latest firm to announce job cuts.

  • Standard plans major pension push

    18 December 2008

    Standard Life is to launch a large-scale pension marketing campaign early next year featuring explorer Sir Ranulph Fiennes, TV chef Marco Pierre White and presenter and journalist Mariella Frostrup.

  • Stay on the target

    18 December 2008

    The Pensions Bill finally gained Royal Assent towards the tail end of November after a journey of almost 12 months through Parliament.

  • 'Stockmarkets won't give in to depression'

    18 December 2008

    Schroders head of multi-manager Andrew Yeadon believes a market recovery could be seen in late 2009 or early 2010.

  • Swiss Re enters £1bn LoC with JP Morgan

    23 December 2008

    Swiss Re has entered into a £1bn letter of credit with JP Morgan, which expires in 2028.

  • T Bailey tips equity income to beat bear

    18 December 2008

    T Bailey believes equity income funds will be among the most successful performers next year and has started reintroducing them across its fund range.

  • Tenet sets up indemnity firm

    18 December 2008

    Tenet has set up a new professional indemnity insurance company for its 5,500 adviser firms.

  • Thames River posts £90m inflows

    22 December 2008

    Multi-manager boutique Thames River Capital has posted record inflows of over £90m since its launch in October 2007.

  • The easy option

    18 December 2008

    Right then, something pithy to round up 2008. How about Chris Cummings' response to the RDR conference I sat through online late in November?

  • The Year in life and pensions

    18 December 2008

    The Government's revolving door policy in relation to pensions ministers got off to an early start in 2008 with Work and Pensions Secretary Peter Hain resigning.

  • The year in mortgages

    19 December 2008

    Interest rates started the year at 5.5 per cent and few are likely to have predicted they would end the year at 2 per cent.

  • The year in protection

    23 December 2008

    Insurers got the year off to a good start by guaranteeing to pay out more claims for protection insurance in cases of non-disclosure.

  • The year in regulation

    22 December 2008

    A terrible year for the FSA began nicely enough with former chief executive John Tiner being awarded a CBE in the Queen’s New Year’s honours list.

  • The Year that went bear-shaped

    18 December 2008

    Sour taste of LehmansRay Boulger, senior technical manager, John Charcol It was really not until early this year that it dawned on people generally that things were going to get a lot worse before they got better.

  • Theory and practice

    18 December 2008

    Chris Gilchrist's recent article on asset allocation identifies the most critical issue facing most IFAs - how to undertake asset allocation following the recent and continuing market turbulence.

  • Three-month wait for L&G warning

    18 December 2008

    Advisers have attacked Legal & General's failure to notify structured product investors of their exposure to Lehman Brothers for nearly three months after the investment bank went bankrupt.

  • Time line

    18 December 2008

    The earliest seeds of PSigma Asset Management were sown at private client stockbroker Buckmaster & Moore in the 1970s.

  • Time to get infra the upturn

    18 December 2008

    What a terrible year it has been and very well encapsulated in one fund, JM Finn global opportunities. It focuses on infrastructure projects like power and shipping, in fact, anything that is vital if the industrial revolution in emerging markets is to continue. Of course, it was always going to be a bumpy ride but I did not expect it would get so volatile so quickly.

  • Tories and Lib Dems slam Govt over repossessions

    18 December 2008

    The Conservatives and Liberal Democrats have both attacked the Government for failing to do enough to protect people from repossession.

  • Two wise men

    18 December 2008

    As traders wind down their positions ahead of Christmas, so markets should enter a period of relative calm. Of course, given the extent of recent share price swings, relative could still mean some pretty alarming moves and there is still much going on that will affect investor sentiment.

  • UK economy set to shrink 2 per cent in 2009, says Schroders

    19 December 2008

    Schroders’ Alan Brown is predicting the UK economy to decline by 2 per cent next year and expects a “weak recovery” in 2010.

  • US tipped for stellar performance in 2009, says AIC poll

    18 December 2008

    The US is tipped to be the best performing region next year, according to the latest poll of fund managers by the Association of Investment Companies.

  • Vision advisers wait for cash

    18 December 2008

    Advisers with Vision Network, formerly The Mortgage Times, may have to wait until after Christmas to receive late commission payments owed to them.

  • Ward wants Euro Freddie/Fannie to restart securitisation

    18 December 2008

    Homefunding chief executive Tony Ward has called for a European Freddie Mac or Fannie Mae organisation to reignite the securitisation market.

  • Which? tells FSA to name and shame pension switching missellers

    17 December 2008

    Which? is urging the FSA to name and shame the worst offenders of pension switching misselling.

  • Wide-ranging debate after gruelling year

    18 December 2008

    Well that really was a bit of a rotten year wasn't it, and next year is going to carry its own challenges too.

  • Woodford is among income yield exodus

    18 December 2008

    Invesco Perpetual star fund manager Neil Woodford is set to lead an exodus from the UK equity income sector following the IMA's latest announcement on yield requirements.

  • Working titles

    18 December 2008

    This year, I have been heavily involved in the area of financial capability. When I was heavily (albeit constructively) critical of the pilots for phone-based guidance, I expected to be dismissed as a spoiler but to the credit of the Treasury team, my aversion for brown- nosing led to a one-to-one debrief which they genuinely appreciated, as evidenced by my presence at the FSA/ HM Treasury summer school.

  • Year of two halves

    18 December 2008

    This has been a very difficult year for investors, with a bear market, a financial crisis and now a global recession to contend with. Global stockmarkets have fallen by around 40 per cent since the start of the year.

  • Yousefian says beaten-up stocks must wait until 2010 for recovery

    18 December 2008

    OPM Fund Management chief investment officer Tony Yousefian is predicting that 2009 will be a year of two distinctly different investment themes.

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