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AMP demerger plans delayed

AMP has revealed its demerger plans are to be set back by a few weeks as it needs time to incorporate the FSA&#39s new realistic solvency requirements into the demerger explanatory memorandum.

The Australian insurer was due to lodge the memorandum with the Australian Securities & Investments Commission at the end of the week, but says it will now do so in early October, with details available publicly later that month.

Chief executive Andrew Mohl says AMP is still committed to the demerger and while the timetable is tight believes completion is achievable by the end of the year.


GSAM awarded £30m Skandia mandate

Goldman Sachs Asset Management has been handed a £30m sub-advisory mandate to run a sterling corporate bond fund for Skandia Investment Management. GSAM will run the investment grade bond segment of SIM&#39s bond income fund which, like its stablemates, will be split between fund of funds and segregated mandates. SIM has also chosen GSAM&#39s £687.5m […]

Protection sales boom for IFAs

Protection business sales through IFAs have more than doubled since 2001.Scottish Provident head of marketing and product development Nick Kirwan says Q2 this year saw annual premiums through intermediaries hit a record £107m. The first quarter of 2001 saw just over £50m.Kirwan says: “The growth is driven by a host of factors, including house prices, […]

Confidence in housing market defies speculation – Woolwich

Confidence in the housing market has remained steady over the last three months according to the Woolwich&#39s latest figures. UK gross mortgage lending rose to £24bn for August 2003 up 16 per cent year on year from £20.7bn in August 2002.

IFA accountants boost services at Three Sixty

Cheshire-based IFA accountancy specialists Personal Tax Partnership has joined support services group Three Sixty. Personal Tax Partnership, Laura Chuck and Sheila Huxley, provide accountancy, audit and tax planning services to directly authorised IFAs and network members.


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