The Faculty and Institute of Actuaries is urging companies to consider alternative defined-benefit schemes that allow employees and employers to share investment risk. It says companies can bear some or all of the investment risk before retirement but pass the risk to employees at retirement. This is done by giving benefits as a lump sum rather than a pension. Part of the lump sum can be taken as tax-free cash with the rest used to buy an annuity.
New Star has taken £47m in its Select Opportunities fund, run by Patrick Evershed, since its launch on May 20.The inflow of cash may have been helped by the Inland Revenue last month allowing investors in Evershed's previous fund, Rathbone special situations, to switch without charge to the New Star fund.The Revenue's decision went some […]
Fund research company Fitzrovia is calling for total expense ratios to be used as an indication of true fund costs across the industry as fund firms continue to increase annual charges on Oeics and unit trusts.Fitzrovia wants investment houses to be more open about their total expense ratios after its research found that annual charges […]
Bristol & West is introducing three new two year mortgage products with no extended tie-ins.The two year discount product, with a £399 booking fee is charged at 3.89 per cent, being a 2.06 per cent discount off the standard variable rate of 6 per cent. Alternatively, the two year discount with arrangement fee of £399 […]
British people work longer hours, live in smaller houses and accumulate more mortgage debt than their European counterparts, according to research MarketPlace at Bradford & Bingley.The MarketPlace's European Personal Finance Report published this month focuses on work, earnings and income, homes, spending, saving and financial services and household wealth.It reveals Britons are the hardest-working nation, […]
Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles
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Two company directors have been disqualified for a combined 20 years after running a fine wine investment scam that lost investors nearly £1m. An Insolvency Service investigation found that Crimson Fine Wines cold-called customers and then did not purchase or allocate wines to those who had paid for their investments. The investment scheme offered investors […]
AJ Bell has won a case against a client who wanted his platform fees for the past 14 years reduced. A client, referred to as Mr N, complained to the Pensions Ombudsman that, because he did not have enough information about what fees would be payable, he sold a property holding in his Sipp far […]
National advice firm Foster Denovo has acquired employee benefits consultancy TEBC. The deal brings over 100 corporate client relationships, and Foster Denovo will look to build TEBC’s staff into its own employee benefits division, Secondsight. Foster Denovo says the deal is the first in an acquisition strategy it will be pursuing. Chief executive Roger Brosch […]