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AS 2012: Government paves the way for super-long gilts

The Government has given the green light on the issuance of gilts with maturities in excess of 50 years.

In the last Budget, Osborne announced plans for the Debt Management Office to test market appetite for the “super-long gilts”.

Following the consultation, the Government says issuance of these super-long gilts could represent cost-effective financing for the Exchequer.

The Government will remove the current maturity cap on gilt issuance which was set at approximately 50 years and anticipates that in 2013-14 the Debt Management Office will look to launch new issuance in the 50- 60 year area, subject to demand and market conditions.



Openwork to mandate Omnis Investments for advisers

Openwork is to mandate its investment offering, Omnis Investments, for all advisers from the second quarter of next year. The firm currently operates with a panel of around 35 asset management groups and 120 funds. From next year, it will make it mandatory that all 750 Openwork investment advisers use Omnis Investments only. Omnis is […]

Royal London finance director Stephen Shone quits

Royal London finance director Stephen Shone will leave the provider at the end of the year. Shone has been at Royal London for 14 years. He will continue to lead to conclusion the group’s acquisition of the Co-operative Banking Group’s life insurance and asset management businesses before leaving the business fully. Shone will be replaced […]

AS 2012: Corporation tax is cut again to 21% by 2014

Corporation tax is set to fall to 21 per cent by 2014 as part of chancellor George Osborne’s plans to create a “competitive” business tax regime. In his emergency 2010 Budget, Osborne planned to cut the rate from 28 per cent to 24 per cent by 2014, before accelerating this reduction to 22 per cent […]

Schroders’ Richard Buxton predicts start of equities bull market

Schroders head of UK equities Richard Buxton has called the beginning of a bull market in equities. Buxton, who runs the £3.1bn UK Alpha Plus fund, predicted in 2002 that there would be a period where the equity market would go sideways and while there has been a total return from the market over the […]

Brexit Commentary from Natixis Global Asset Management

By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]


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