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3i posts 9 per cent profit growth

The UK largest venture capital 3i announces its profits for the year ending March 31 are up 9 per cent from just under £110 to £119.

The company also enjoyed a 44 per cent increase in total return on shareholder funds. Its funds rose in value from £3.6bn to £5.2bn.

In the recently concluded fiscal year 3i invested a record £1.4bn in 593 companies worldwide. It is focusing its future strategy towards furthering its international presence.

3i also says that deputy chairman John Melbourn is resigning and will be replaced by Sarah Hogg.


Paragon launches equity release mortgages

Paragon Mortgages announces it will begin offering equity release mortgages, which allow elderly home owners to raise cash without selling their homes.The specialist lender has decided to enter the market because of the gap left when Barclays and the Bank of Scotland withdrew from it. Paragon chief executive Nigel Terrington says he believes his company […]

RBS sells NatWest assets

The Royal Bank of Scotland has sold the interests in a number of unlisted companies it acquired when it purchased National Westminster Bank. They were sold to a consortium of private investors led by the private equity firm Coller Capital for £670m. Included in the deal, Coller will also take on a further £148m of […]

FSA says ISAs better than personal pensions for most

The FSA says that the average investor saving for their retirement would be better off putting their money in ISAs rather than personal pension schemes.The regulator says that basic-rate taxpayers especially, who wouldn&#39t benefit from the tax breaks offered by personal pensions as would higher earners, would be better off investing in low-cost ISAs.FSA research […]

Investors browse net but aren&#39t buying yet

More than two-thirds of investors prefer to use the Internet to browse ratherthan buy according to a Bristol-based IFA.In a survey of 4,000 of its clients, Falcon Group found they would rather make investment purchases by other means – with advice from an IFA coming out on top with58 per cent.Falcon&#39s own newsletter was placed […]


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