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Assets fall at Standard but Sipps and wraps show growth

Standard Life’s total UK assets under administration fell by over 2 per cent from £112bn to £109.4bn in the first nine months of 2011 as the company was affected by volatile equity markets.

In an interim management statement, published last week, the company reported a £3bn drop in UK fee business assets under administration from £98.6bn on January 1 to £95.6bn on September 30.

Inflows from retail fee business rose by 6 per cent from £5bn in the first nine months of last year to £5.2bn this year.

Total Sipp customers have increased by 19 per cent to 127,700 since the start of this year, with total Sipp assets under administration hitting £15.9bn.

Standard has added a further 197 adviser firms to its wrap platform since the end of 2010, bringing the total to 969 at the end of September.

Chief executive David Nish says: “We are strengthening our market positions and improving our efficiency to ensure we are competitively positioned for the important market and regulatory changes ahead of us.”


Fitch upgrades Oakwood’s service ratings

Fitch Ratings has upgraded Oakwood’s UK servicer ratings. Its residential primary servicer for prime mortgages and primary servicer for sub-prime mortgages have been upgraded from RPS3+ to RPS2-, while its residential special servicer has been upgraded from RSS2- to RSS2. Fitch says the ratings are based on Oakwood’s ability to effectively manage growth, as evidenced […]


Advisers must act now to tackle RDR tax costs

Many in the industry hoped the changes to adviser remuneration resulting from the retail distribution review would have minimal tax implications but they were disappointed. The tax changes look to be wide-ranging and may affect the number of products offered. Fortunately, some of the hidden tax costs of the RDR can be mitigated if advisers […]

Bank holds base rate at 0.5% and QE programme at £275bn

The Bank of England’s Monetary Policy Committee has decided to hold base rate at 0.5 per cent for the 32nd consecutive month and to hold quantitative easing at £275bn. The last rate change was on March 5, 2009, when it was reduced from 1 per cent to 0.5 per cent. On the same day, the […]


MM Leader: Don’t let the regulator split advice sector

The state of Aifa’s finances, revealed earlier this week on the Money Marketing website, clearly highlights the predicament facing director general Stephen Gay. The trade body’s results for the year ended June 2011 show a deficit of nearly £200,000, compared with a small surplus the previous year. Gay has made no secret of the financial […]

Neptune launches Japan Institutional Fund

By Chris Taylor, Investment Director, Head of Research Neptune is excited to announce the launch of the Japan Institutional Fund on 22 June, having disclosed to the market in March its intention to offer the product. The Fund will be managed by the highly-regarded Chris Taylor, Head of Research and manager of the long-running Japan Opportunities Fund. It will invest in the same underlying stocks as the Japan […]


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