The Association of Unit Trusts and Investment Funds is resisting European Union attempts to increase the amount tracker funds can invest in a single company. The move to increase the limit to 35 per cent from the current 10 per cent is being led by EU countries which have a domestic stock market index dominated by a single company. Autif says there may be merit in some increase not beyond 15 per cent but insists there cannot be two sets of rules for passive and active funds.
West Bromwich Building Society is launching a three-year fixed rate bond which pays up to 6.8 per cent gross.The Guaranteed Monthly Income Account is fixed until 30 November 2002 with monthly and annual interest options paying 6.6 per cent and 6.8 per cent respectively.The minimum balance is £10,000 but existing “Privileged Members” can open an […]
The Inland Revenue is cracking down on loanbacks by bringing in tough new guidelines which must be met before life offices can lend to firms.Loanbacks allow clients to take out loans using their pension policy as security.The Revenue says it will start policing loanbacks by forcing life offices to prove a loan is judicious from […]
Fund manager Capel Cure Sharp is warning investors that the current economic cycle is likely follow the same pattern as past ones.In its latest portfolio strategy it says: “Economies expand, they reach the point eventually where inflation accelerates and the monetary authorities expand by raising interest rates.”It says the US bond market is having second […]
Norwich Union is to launch a new “red braces” advertisement this time featuring children.Norwich Union chief executive for long term savings Philip Scott says: “By using children to represent the future the ad helps ram home the message that Norwich Union is a serious player in the investment world.“A lot of people used to think […]
Jelf Employee Benefits looks at the issue of paying anaesthetist fees when the patient had no chance to discuss or agree to them prior to care; and provides recommendations for avoiding this scenario.
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It is sometimes all too easy to forget that pensions are about income throughout retirement, especially when members are having huge capital sums dangled under their noses like juicy carrots. In final salary land, the current excitement over defined benefit transfers is driven by the enticing sums on offer. It is not surprising 80,000 people […]
Firms say they will finalise plans to move capital and staff across Europe by Q1 2018 Asset management firms expect to have their post-Brexit contingency plans in place by the first quarter of next year, despite fears of a lack of a deal between the UK and the European Union, a Member of the European […]
New entrants to the asset management space will not get authorised unless they meet the same high standards as incumbents, the FCA has said as it launches a hub for start-up fund firms. Earlier this week, the FCA said it would support new entrants to get their FCA permissions through a new suite of services, […]