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ABN Amro fails with Artemis bid

ABN Amro is known to have made an unsuccessful approach to buy fund boutique Artemis following the resignations of its star managers Nigel Thomas and George Luckraft.

The approach is thought to have been made last month as ABN tried to replace the managers, who run around £1.3bn of the firm&#39s £1.5bn of UK funds, with a deal that would prevent investors leaving in droves.

But Artemis, which rebuffed an approach from New Star five months ago, made a counter bid, offering to buy ABN&#39s UK book.

ABN&#39s options are now either to replace Luckraft and Thomas, acquire a new UK team or buy another business. It says it cannot comment on what option it is pursuing.

Artemis managing director Jamie Campbell says: “We are very happy as an independent, vibrant business.”


L&G doubles Isa market share

Legal & General doubled its share of the Isa market in the first quarter of the year after sales rocketed to £168.2m from £115.5m in the same period in 2001.The boost meant that L&G&#39s market share shot up by more than 110 per cent – of the sales of Investment Management Association members – to […]

Berkshire IFA is fined £120k over continued pension review failings

A series of pension review failings has led the FSA to impose a £120,000 fine on IFA Ward Consultancy of Hill House, Milley Lane, Hare Hatch, Berkshire.It is the firm&#39s second fine in five years. In December 1997, it was fined £20,000 with £5,000 costs for a similar offence.The FSA says the latest penalty was […]

Ice work if you can get it

M&G&#39s competition to win a snowmobiling safari in Iceland has been won by Gill Steele of Lodders in Stratford Upon Avon and Malcolm Dowsett of Malcolm Dowsett Financial Services in South Woodford, London.They both receive two return tickets to Iceland, three nights&#39 accommodation, a trip to the famous Blue Lagoon and the snowmobiling safari.The competition […]


“Yes. It is a market that a lot of people are getting into without realising the potential pitfalls.”David Jerram, Jerram Surlis & Co“No, I think people can make a decision when they are entering a commercial relationship where any lettings can service the mortgage and if they can&#39t they shouldn&#39t be getting involved.”Roger Labbett,Roger Labbett […]


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