The Bank of England decided to keep interest rates on hold at 4.75 per cent. The decision to not raise the rate by another quarter per cent was widely expected. Nationwide Building Society said house prices moved by just 0.1 per cent in July, the smallest monthly increase since October.
MAN INVESTMENTS Man RMF Multi-Style Series 2 Type: Capital-protected hedge fund Aim: Growth by investing in managed futures, relative value, event driven equity hedge and global macro strategies Minimum investment: Lump sum $50,000, euros 50,000 Investment split: 50% managed futures, 23% relative value, 13% event driven, 7% equity hedge, 7% global macro Place of registration: […]
David M Aaron (Personal Fin-ancial Planners) has become the first IFA firm to be banned for misselling. It has been struck off by the FSA for widespread misselling of precipice bonds between January 1998 and June 2003. An FSA probe revealed that the company issued misleading ads and financial promotions which downplayed the risk of […]
Select & Protect receives its MTA letter from the FSA. Select chief executive Simon Hood says: “We will shortly be announcing details of our regulated offering for brokers and advisers who are to be directly authorised by the FSA. This will include enhanced commissions, full compliance support, competitively rated range of products and a comprehensive […]
This year's Money Marketing Live in Manchester will once again feature two arenas dedicated to pension and protection products. Taking place at the G-Mex on September 28, the arenas will offer specific product focus through presentations, case studies and panel debates. Pension advisers will have the opportunity to hear a debate discussing pension simplification. Gearing […]
Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]
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Transact saw funds under direction marginally increase to £29.8bn in the second quarter of 2018, according to a stock exchange announcement from parent IntegraFin Holdings. IntegraFin listed on the London Stock Exchange in March with a £650m valuation. In a Q2 update today, the company says funds under direction at the close of the three-month […]
The impact of weaker markets saw funds under management at St James’s Place drop in the first quarter of the year, when compared to its Q4 2017 result. In an update this morning, SJP says funds under management at 31 March 2018 were £89.9bn, down from £90.8bn in the previous quarter. On a year-on-year basis, funds under […]
The Department for Work and Pensions expects to spend £96.6bn on the state pension in 2018/19, a 3 per cent increase on the year before. The DWP has detailed its cost estimates in a memorandum sent to the work and pensions select committee, published on its website yesterday. The latest forecast for state pension costs […]