View more on these topics

Advisers: Most new assets will be in clean funds in 12 months

Axa Elevate managing director David Thompson

Two thirds of advisers expect the majority of new platform business to go into clean share classes over the next 12 months, according to research from Axa Elevate.

From a sample of 300 advisers, 52 per cent say they expect more than 75 per cent of new business inflows to be placed in clean share classes.

A further 20 per cent say they expect over half of new business inflows to be invested in clean funds.

Axa Elevate managing director David Thompson says: “Together with the introduction of the RDR, HMRC’s decision to tax fund manager rebates and the FCA’s platform paper rules, these factors have all contributed to the rapid adoption of clean share classes during the first half of 2013.” 

The FCA’s April platform policy statement confirmed the banning of cash rebates, while unit rebates are allowed to continue although with a 20 per cent tax charge if they are paid from unwrapped investments.

The regulator’s policy statement also ruled all legacy payments between fund managers and platforms will be banned from April 2016.



OFT refers payday loan sector to Competition Commission

The Office of Fair Trading has decided to refer the payday lending sector to the Competition Commission over concerns about “deep-rooted” problems with the way lenders compete with each other. The OFT announced its provisional decision to refer the market to the CC in March and carried out a public consultation. Following the consultation, it […]

Brokers warn falling mortgage rates could be at an end

Brokers are warning a year-long trend of falling mortgage rates could be coming to an end after a recent surge in swap rates. Swap rates, which lenders use to hedge potential interest rate increases and are closely linked to mortgage pricing, have crept up since May but surged at the back end of last week […]

BBA: Approvals up 11% year-on-year in May

The number of mortgage approvals from the major high street banks was up 10.7 per cent year-on-year in May, according to figures published today by the British Bankers’ Association. The figures, which look at the major banking groups that represent two-thirds of all mortgage lending, show there was a total of 65,752 mortgage approvals in […]

Octopus moves to maintain qualifying status for Titan VCTs

Octopus Investments has launched a new venture capital fund to allow three of its existing Octopus Titan funds to retain VCT qualifying status. The Octopus Titan VCTs 1-3 will sell their holdings in four underlying portfolio companies – Zoopla Property Group, Graze, Calastone and Secret Escapes – to a new fund that will be financed by institutional investors and […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm