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Aberdeen shelves Fof plan

Aberdeen Asset Management has shelved the launch of its fund of funds operation, citing the economic environment for the delay.

The multi-manager should have been running by the end of last year but has been put on hold, with Aberdeen admitting “everything is under review”.

The decision throws into doubt the positions of Simon Nicholas and David Oakes, who left Cazenove&#39s multi-manager team last May to establish the Aberdeen business.

AAM recently closed its private client unit trust operation, which it launched 12 months ago. That decision resulted in the redundancies of James Thompson and Simon Ackroyd, who were responsible for its development.

Managing director Gary Marshall says: “It is not the right climate for launching a fund of funds business. We want to be able to launch it properly but everything is under review.”

Simpsons of Brighton IFA partner Andrew Merricks says: “Aberdeen lurches from one crisis to another. It is only a matter of time before it rebrands – things are getting desperate.”


Scottish Life waives policy fees on Talisman plans

Scottish Life is removing policy fees for single premiums or transfers of £10,000 or more or contributions over £100 a month into its Talisman personal pension plan, or contributions over £250 into its Talisman executive pension plan. Scottish Life individual pensions marketing manager Mark Polson says: “The retirement market is an increasingly competitive area for […]

Contract in, out, shake it all about

The Government policy on contracting in and contracting out is full of contradictions. On the one hand, the Pensions Green Paper is seeking actively to encourage self-employed people to contract into the state second pension. This suggests a move towards state provision. This sits uneasily alongside contracting out, which has helped many people get the […]

Inside edge

FSA consultation document 164 proposes a number of radical changes intended to ensure the conditions which led to the collapse of 19 split-capital investment trusts cannot happen again and to rebuild confidence and trust in the sector and the wider financial services market. Even if it succeeds in preventing the same type of failures happening […]

Don&#39t miss &#34carry-back&#34 deadline says Jupiter

People saving for retirement should take advantage of their carry-back pensions tax-break before the January 31 deadline says Jupiter.Jupiter estimates some individuals approaching retirement could contribute up to £38,160 and claim tax relief worth up to £15,264 at 40 per cent tax.Jupiter unitised pensions development director Colin Maloney says: &#34Whilst &#39carry forward&#39 was abolished last […]

Greece: the sideshow continues

Artemis managers James Foster, Mark Page and Laurent Millet comment on the Greek deal, describing it as “just another fudge” getting in the way of bigger developments in China, the UK and the US. To read the full article click here.


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