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97% of investors accept FDL deal

Fund Distribution Limited says over 97 per cent of investors have accepted its first distribution offer and 113m has been paid out to around 24,600 investors. This covers losses totalling 284m and represents a recovery of 40 per cent of losses. FDL will make its second and final distribution of 29.5m, equivalent to 10p in the pound in the fourth quarter before winding up.

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MEX reveals new self-cert range

Mortgage Express is offering a range of two year fixed rate deals on self certification mortgages.It says the move comes in direct response to recent broker research indicating strong consumer demand for two-year deals.The range includes a set of discounted deals which revert to base rate plus 2 per cent after the fixed period. They […]

Canada Life announces changes to special situations fund

Canada Life has announced it will temporarily close its Canlife Fidelity special situations fund a week before Fidelity splits the 6bn fund into global and Uk mandates on September 18.Canlife currently has 4.9m invested in the Fidelity fund and will close the fund to new business and inward switches one week prior to the split. […]

Pink ‘seeking quality buys’

Pink Home Loans is the latest network to go on the acquisition trail. Pink says it in discussions with a number of companies, reflecting the trend towards consolidation in the sector. In April, Home of Choice revealed it was talking to sev- eral networks and last month confirmed it will make at least one acquisition […]

Aifa set for Treasury clash

Aifa is on a collision course with the Treasury after urg- ing advisers to continue recommending alternatively secured pensions to clients despite warnings from the Treasury that it will scrap Asps if they do. The Treasury is now considering all options to ensure that Asps are used exclu- sively for religious groups with moral objections […]

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