Philip Scott

freelancer

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Is age the next battleground on pension tax relief?

Advisers and providers are wary about whether the latest proposed overhaul to pension tax relief will do anything to encourage more people to save. It emerged last week the Treasury is considering a policy which would see the Government offer different top-ups to pension contributions based on an individual’s age. Under the proposals, which are […]

Chancellor to deliver first Autumn Statement on 23 November

Chancellor Philip Hammond has announced he will present his first Autumn Statement to Parliament on 23 November. In a bid to ensure the UK economy keeps on growing post-Brexit, it is expected housebuilding as well as public infrastructure projects will form the foundations of his plans. The statement will also include the latest economic forecasts […]

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Hard numbers and harsh truths in property vs pensions debate

The provocative comments from Bank of England chief economist Andy Haldane that property trumps pensions when it comes to retirement planning have reignited an age-old debate. The comments come off the back of worrying research from Citizens Advice that suggests large numbers of consumers are eschewing pensions in favour of bank accounts, and after Money Marketing […]

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IMF warns Brexit and housing market threaten UK economic progress

The International Monetary Fund has warned the upcoming Brexit vote and the housing market both threaten to derail the UK’s recent economic progress. In a note issued on Wednesday, the crisis lender highlighted that Britain’s economic engine had been growing steadily in the wake of decent private domestic demand, supported by rapid job growth, with […]

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Rathbones funds under management rise 7% in 2015

Funds under management at Rathbones rose by 7.4 per cent to £29.2bn in 2015, while underlying pre-tax profit jumped 14.3 per cent to hit £70.4m. In its annual results the asset manager also reported the total net growth rate of funds under management was 5.7 per cent, a steep fall from 2014’s 19.6 per cent. […]

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City brokers cleared in Libor rigging case

Five City brokers accused of manipulating the Libor rate have been cleared in a London court. Noel Cryan, Danny Wilkinson, Colin Goodman, James Gilmour and Terry Farr, were all found not guilty, the BBC reports. However, the jury has reached a not guilty verdict on one count of conspiracy to defraud by former Icap broker […]

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Liontrust shuts bond fund after managers quit

Liontrust Asset Management is to shut down its GF Global Strategic Bond fund in the wake of the resignation of the portfolio’s co-managers Michael Mabbutt and Felix Martin. Dealing in the £33m Dublin-based vehicle was suspended on 15 January and it is set to be wound up on 29 January, after which all money will […]

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BlackRock reshuffles investment leadership

BlackRock has reshuffled the leadership across its investment business, pulling all of its active equity strategies into one team and bolstering its multi-asset capability. The fund management group has announced that from 1 February, Rich Kushel, chief product officer and head of strategic product management, will take on the role of head of multi-asset strategies […]

Former IA chief Daniel Godfrey joins fintech firm

Former Investment Association chief executive Daniel Godfrey has joined the advisory board of savings and investment app Moneybox. In the role, Godfrey will be advising the technology group on regulatory issues as well as product design. The fintech firm, which is targeting the so-called millennial generation, has raised $3m (£2m) in seed funding from Betfair […]

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Standard Chartered warns oil price could collapse to $10 a barrel

Standard Chartered has warned the oil price could plunge to $10 a barrel amid fears of a further devaluation of China’s currency. The bank is the latest institution to throw its hat in the ring and caution that it believes oil prices are set to drop even further. Yesterday, Morgan Stanley said it believes prices […]