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A-Day still shining for Aegon

Aegon UK says it is continuing to see the benefits of A-Day come through in its pension sales.

The firm’s life and pension business rose by 21 per cent to £606m in the first half of this year from £499m in the same period last year.

Individual pension sales leapt by 39 per cent from £152m to £206m and operating earnings rose by 23 per cent from £75m to £92.6m.

Aegon UK chief executive Otto Thoresen says the initial rush of people consolidating pensions after A-Day has slowed but factors such as increased contribution limits continue to boost growth.

He says: “There are two aspects to the A-Day effect. The first is the reorganisation of existing portfolios, which has slowed down. The second is people taking advantage of opportunities offered by the new rules and this effect is continuing.”

Aegon Asset Management’s institutional funds dropped by 78 per cent from £311m to £67m due to the loss of mandates.


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Santander Asset Management UK has appointed Lucy McGurnaghan as senior marketing manager to its marketing and communications team. She will report to head of customer marketing Rob Askham.McGurnaghan joins from M&G Investments where she was intermediary marketing campaign manager working with media and creative agencies on campaign implementation. Prior to M&G, she worked at Henderson […]

Starkey mulls legal action after Tooze letter

Equal Partners has called in its solicitors in a bid to prevent former director Kevin Tooze moving its clients to his new firm Equity Partners.Equal Partners company secretary William Starkey, husband of the company’s late managing director Vivienne Starkey, instructed his solicitors to act after being a sent a copy of a letter Tooze is […]

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There is no denying the success of fund of fund and manager of manager structures, from groups with long-standing offerings such as Jupiter, New Star, Cazenove, Fidelity and Credit Suisse, to relative newcomers such as North, Resolution and Thames River. Some groups have chosen to try a single fund formation using the same approach, such […]

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US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]


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