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Aberdeen interested in Murray Johnstone

Aberdeen Asset Management has announced its intention to join the bidding to buy Glasgow fund manager Murray Johnstone.

A highly competitive auction is expected, with Friends Ivory & Sime possibly interested, as well as several overseas bidders. The price is £150m, which many may see as too high.

The announcement comes at a time when Aberdeen’s independence is seen as under threat. Edinburgh life office Scottish Provident, which owns a 38 per cent stake in the firm, is itself up for sale.

However, Aberdeen remains undaunted, saying that a takeover is unlikely and it is certain to retain its independence.



A Consumer&#39s View

Would you set up a business to sell a product where the gross profit margins were fixed at 1 per cent, where you were unlikely to show a profit on the business within 10 years, where the competition is fierce, where there is little or no customer loyalty, where a significant proportion of working capital […]

Trade body slams Myners review

The Association of Consulting Actuaries has attacked the Myners Review’s inquiry into institutional investment. The ACA questions the conclusion that UK pension funds should invest more in venture capital projects, arguing there is no shortage of venture capital in the economy and it would be unwise to encourage trustees to invest in a high-risk market […]

Aegon still looking for buys as profits double

Scottish Equitable parent company Aegon UK says it is still on the hunt for further acquisitions after record new business results for the first half of this year.The group says following the successful acquisition and integration of Guardian life and pension business, which it bought from Axa last year, it is still “interested in selected […]

Small hope of exemption

For many of us, stakeholder pensions have been a feature of our lives ever since the publication of the Green Paper over 18 months ago.Most big companies which have regular contact with their professional advisers are well aware of the impact of stakeholder on their businesses. It is only now, however, that significant numbers of […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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