View more on these topics

Another Aberdeen split cap placed in liquidation

The third Aberdeen split caps investment trust was placed into administration by its board as the crisis both at the fund manager and in the sector deepened.

The Aberdeen leveraged income trust is now virtually guaranteed to not return any capital to its shareholders as it followed its high income and media & income trusts into liquidation.

Two other trusts suspended their shares this week as well. The LeggMason investors american assets&#39 £13m of liabilities are now higher than its £12m in assets while the £24m Exeter enhanced income also stopped trading.

In total some 14 funds have now suspended trading and a number have been placed into liquidation.

Recommended

£5 cap on broker fees removed

The Treasury is removing the Consumer Credit Act&#39s £5 cap on fees for advice given by intermediaries which does not lead to the client taking out a mortgage. It says this is because there will be occasions when the appropriate advice is not to take out a mortgage, but it says the FSA will be […]

PMI business drops while premiums fall says Datamonitor

The number of consumers taking out private medical insurance continues to fall according to analysts Datamonitor.In its UK Health Insurance 2002 report, Datamonitor says rising premium levels are scaring away customers, a trend that will continue unless the industry finds a way to slow this increase in prices.Datamonitor predicts providers will bring new, simpler products […]

Winterthur to widen its range

Winterthur Life is planning to broaden its product range into life and investments when it moves under the Credit Suisse brand umbrella next year.Sipp specialist Winterthur is expected to drop its 125-year-old brand in the first half of 2003.It has a project team working on the detail of an investment bond product and has suggested […]

John Porteous

Born: Edinburgh in 1970.Lives: Brentwood, Essex, with wife Liz.Career: Left Inverkeithing High School to join Scottish Widows in 1988.Broker consultant with Scottish Widows, Abbey Life and Murray Johnstone until 1998, then joined Robson Rhodes as an IFA. Joined Kingsbridge Financial in 1999.Career ambition:To continue to improve as an IFA.Life ambition: To look over my shoulder […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment