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Axa sets sights in mutual funds market

Axa is targeting the mutual funds market with a range of new funds and a £3m campaign to attract consumers and intermediaries. The first to be launched is the global high-income corporate bond fund on January 15. It will be available as an Isa, with a gross redemption yield of 8.9 per cent and primarily invested in the European corporate bond market. Initial charge is 3.5 per cent and annual management charge is 1.25 per cent.

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&#3960% of people have not saved in last two years&#39

Two-thirds of people in the UK have made no effort to save in the past two years, according to independent research commissioned by Allied Dunbar. The research shows Isas are the most popular savings product, with 40 per cent of savers having money in an Isa. Twenty-four per cent did not know what investment vehicle […]

Dual track solution for Royal Skandia

ROYAL SKANDIA UK Equity Fund Type: Offshore unit-linked fund. Aim: Growth by investing in UK actively and passively managed funds. Minimum investment: £15,000 lump sum, £100 a month. Place of registration: Isle of Man. Investment split: 100 per cent UK. Yield: Nil. Charges: Annual one per cent. Commission: Subject to negotiation. Tel: 01624 611611. David […]

HSBC Asset Management chief resigns

HSBC Asset Management&#39s chief executive Paul Guidone has resigned and is to be replaced by Alain Dromer. Dromer is head of asset management and insurance businesses of HSBC&#39s Credit Commercial de France. Guidone is to return to the US where he will join J&W Seligman in New York. HSBC investment banking and markets executive director […]

INDEPENDENT VIEW

At a time for reflection on the last 12 months (and not forgetting next year&#39s targets) what do we have to look forward to? Well, fortunately the world did not end with the arrival of 2000 while the mil lennium bug was obviously sidelined by last year&#39s flu virus as it did not make an […]

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