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Aberdeen blocks Euro tech fund dividend

Aberdeen Asset Management has been forced to stop the dividend on its European Technology & Income Trust, after the fund’s value was decimated to just £14m.

The fund, which was launched just a month before the global technology crash last February, has seen around lost around £386m of the £400m invested.

As a result of the news, Aberdeen’s share price plummeted 10 per cent yesterday, seeing £86m wiped off the value of the company.


Pru calls for stakeholder review

The Prudential is calling on the Government to review its stakeholder pensions in 12 to 18 months time to gauge how successful the products have been.In announcing its business results for the six months to June, chief executive Jonathon Bloomer said the take-up of the pensions would have to be looked at and changes such […]

Inscape takes a sipp at the pension market

Inscape, the investment management arm of Abbey National, has brought in the Inscape self invested person pension plan (Sipp).A full Sipp, the product is aimed at existing customers of Inscape who have an initial amount of at least £2,000 to invest in a pension that allows them control over where their money will be invested. […]

Court challenge over lender rates

The discretion mortgage lenders have to set interest rates at will could be blown apart this week in a test case at the Court of Appeal. A married couple are challenging the right of their lender, Paragon Mortgages, to refuse to lower their interest rate in line with cuts to the Bank of England base […]

IFA updates Equitable Life guide

IFA Dennehy Weller & Co has updated its free guide for policyholders ofbeleaguered pension provider Equitable Life. The guide, last revised inJanuary, highlights the main options that policyholders have followingEquitable&#39s recent decision to slash the value of its pension plans by 16per cent across the board. The IFA suggests alternative pension providersin the guide after […]


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