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Aberdeen doubles pre-tax profits

Aberdeen Asset Management has posted doubled pre-tax profits of £13.4m for the first quarter of 2000.

The increase from last year&#39s mark of £6.7m will likely garner the fund manager a much coveted top 10 spot in the Association of Unit Trusts and Investment Funds monthly figures.

It is currently ranked the 13th largest fund manager in the UK.

Aberdeen has also enjoyed a 27 per cent increase in assets under management to £20.5bn and its interim dividend per share grew 106 per cent from 1.7p to 3.5p.

Chief executive Martin Gilbert says “It&#39s been a great period and results were probably slightly better than we were expecting.”


AXA purchases remaining shares in Sun Life

Axa, the French insurance giant, has announced it is purchasing the remaining stake in Sun Life and Provincial Holdings it does not already own.The company already owns 56.3 per cent of SLPH, this deal will give it control over the remaining 43.7 stake in the life office.SLPH&#39s shareholders will receive 500 pence in cash, and […]

Cairngorm&#39s investors get preference in float

Cairngorm Asset Management is to offer preferential share applicationrights to its investors when it floats on Aim this year.Share and warrant holders of Cairngorm&#39s investment trusts will beeligible for the preferential rights as well as new investors who registerbefore a cut-off date to be announced in the coming months.The Edinburgh-based investment firm announced its intention […]

Liverpool Victoria with-profits plan targeted at IFAs

Liverpool Victoria is targeting the IFA market with a with-profits tax-free savings plan.It is the second product from the friendly society&#39s recently launched IFAdivision.The 10-year plan is for investors seeking a regular savings vehicle forthe long term. It offers a choice of regular savings amounts, regularbonuses and a guaranteed minimum death benefit.Liverpool Victoria wants to […]

DBS anger at Bankhall claims on members

Support services provider Bankhall has riled network DBS by claiming itdiffers from networks because it does not own its members.DBS became incensed when it saw the presentation that financial servicessoftware provider Lynx made to analysts prior to its acquisition ofBankhall.One slide in the pres entation, used to describe why Bankhall was betterthan the competition, says: […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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