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AAM private equity team to go it alone

Aberdeen Asset Management&#39s private equity team is poised to leave the group, taking £150-200m of fund contracts with them, according to sources. The team &#45 which joined AAM after it acquired Murray Johnstone &#45 is planning to set up its own business, which is likely to include the management contracts it runs for Murray venture capital trusts and some institutional investors. AAM is understood to be considering taking a stake in the new company.

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&#39Switch to DC is set to rebound on employers&#39

Employers will suffer a fallout from the switch to defined-contribution pension schemes when today&#39s workers find out they have not saved enough to retire, says Hewitt Bacon & Woodrow. Research by the employee benefits consultancy shows only 3 per cent of employers think DC members have a good understanding of the funding levels needed to […]

L&G looks At opening up offshore operation

Legal & General is rumoured to be planning the launch of an offshore life office offering an investment bond. L&G has had no offshore presence other than its structured products which are Dublin-based unit trusts. It is believed to be looking at an open-ended life wrapper although no details of where such a product would […]

&#39New loan networks facing a cash crisis&#39

Mortgage networks looking to grow quickly and sell on their businesses to IFAs after depolarisation could face serious financial problems, warn leading industry experts. Mortgage Intelligence managing director Sally Laker fears that new mortgage networks pulling in members with low membership fees are not looking carefully enough at their long-term costs. She says she is […]

Mind the IFA gap

The FSA and the ABI are preparing for a new surge in mortgage endowment complaints, toughening up their rules for complaint handling and seeking to make successful complainants put any redress they get back into their shortfall. But many believe their actions will provide the momentum for the wave. The regulator and the ABI recently […]

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