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Amber buys £70m mortgage portfolio

Amber Homeloans has bought a 900 strong sub prime mortgage portfolio from Preferred Mortgages. The portfolio has been valued at around £70 million. Amber and Preferred have been working with each other for two years. The move is part of Amber’s strategy to create and trade mortgage assets, and the Skipton Building Society subsidiary said that the purchase would further increase its offering. Preferred Mortgages has already completed several loan sales as well as a securitisation programme.

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Liberty Ermitage discovers golden opportunities

Liberty Ermitage has established an offshore Oeic that aims for capital growth by investing in gold and precious metals. The Liberty Ermitage gold & resources fund will invest in a combination of gold & precious metal stocks and specialist gold funds. Large caps comprise the largest weighting in the portfolio at 32 per cent, while […]

Anderson quits Yorkshire to join Jobcentre Plus

Yorkshire Building Society chief executive David Anderson is leaving to become chief executive of Jobcentre Plus, part of the Department for Work and Pensions.Anderson joined the society in 1987 as marketing director from PA Management Consultants, where he specialised in financial services. He became Yorkshire chief executive in 1996, overseeing double-digit growth for most of […]

Tiner vow over &#39back-door regulation&#39

FSA managing director John Tiner has acknowledged industry concerns about “back-door regulation” as a result of Financial Ombudsman Service decisions and pledged to provide some clarity on the relationship between the two bodies.Speaking at a breakfast meeting in London last week, Tiner said there is a need for the FSA to address this issue.FSA manager […]

Personal Touch&#39s Allison promoted to md

Non-regulated network Personal Touch Insurance has announced the promotion of strategic development director Mike Allison to managing director. He replaces Martin Wilson, who is to take up the role of chief executive. Allison had been in his previous post since April, 2002 where Private Touch says he has been responsible for the growth of the […]

India GDP surprise

By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, comments on the strength of India’s latest GDP figures. Click here for more Important Information Investment risks The Neptune India Fund may have a high volatility rating and past performance is not a guide to future performance. The value […]

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