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Abbey at centre of closure rumours

Abbey says it will not comment until next year on speculation that it may close the Edinburgh office of Scottish Provident, with the loss of up to 500 jobs.

Following reports that trade unions expect 500 out of 750 jobs at the Edinburgh office to be lost as Abbey continues to review its sites, Abbey says it is hoping to be in a position to update staff in January.

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Sipps outperform stakeholder funds

Stakeholder default funds are performing significantly worse than Sipps invested in unit trusts, says Hargreaves Lansdown. Its research shows the average performance of 17 major default funds is -10.3 per cent since the birth of stakeholder in April 2001. This compares with an average performance of -5.4 per cent for its 17 most popular unit […]

Independent view

It has been a busy few weeks since the monetary policy committee made the decision to increase the base rate for the first time in three-and-a-half years. Judging by the consumer media reaction, you would be forgiven for thinking that we had all forgotten that the base rate can rise as well as fall. Despite […]

Premier Asset Management – Premier Money Market Fund

Type: Oeic Aim: Income by investing in cash, short-term deposits and money market instruments Minimum investment: Lump sum £1,000, monthly £50 Investment split: 100% cash, short-term deposits and other money market instruments Isa link: No Pep transfers: No Charges: Annual 0.5% Commission: Subject to negotiation Tel: 01483 400400

Trusts &#39found wanting&#39 over help for splits victims

AITC director general Daniel Godfrey has criticised the industry for its reluctance to offer voluntary financial assistance to the hardest-hit victims of collapsed split-capital trusts. Speaking in London last week, Godfrey said the AITC has been lucky that demand for payouts from its hardship fund has been lower than feared, as financial help from the […]

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