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JP Morgan to merge raft of funds

JP Morgan Asset Management is merging several of its funds following a review of its product suite. Two funds – the £152m Global Financials fund and the £32m Global Property Securities fund – are being merged into the £265m Global Unconstrained Equity fund. The £152m UK Equity & Bond Income fund is being merged into […]

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Old Mutual compensates couple after ‘misleading’ online information

Old Mutual Wealth must compensate a couple after showing incorrect information on its website that led them to believe they could not move their money out of certain under-performing funds. The couple, Mr and Mrs F, made a complaint to the Financial Ombudsman Service about Old Mutual Wealth Life Assurance saying its website wrongly claimed […]

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Pensions minister: Companies should offer in-house IFA

Employers should follow the lead of a Stoke-on-Trent pottery business that brings an IFA into their business on a regular basis as part of their HR offering, pension and financial inclusion minister Guy Opperman says. Speaking at the Pensions and Lifetime Savings Association conference yesterday, Opperman said Stoke-based Steelite, whose premises he had visited, should […]

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Offshore leak puts tax advice in spotlight again

Another significant leak of documents has thrown the role of tax advice into the spotlight again. 13.4m files, being dubbed the Paradise Papers in reports, were passed to German newspaper Süddeutsche Zeitung, with an investigative project with partners including the Guardian, the BBC and the New York Times coordinated by the International Consortium of Investigative Journalists. The leak […]

HMRC helping to remove artificial gains

An investment bond offers investors certain tax advantages, one of which is the ability to take partial surrenders from the investment. This facility allows the policyholder to withdraw amounts up to 5% of the amount invested each policy year on a tax deferred basis, without incurring any immediate tax liability. This tax deferred allowance can […]

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