View more on these topics

Bank of England&#39s rate cut spells misery for investors


The Bank of England&#39s decision to reduce interest rates by 0.25 per cent means further misery for savers.


Many banks and building societies such as Nationwide and Halifax have yet to decide whether to follow suit, announcing that they intend to review both savings and lending rates.


But Virgin Direct and Abbey National reacted immediately cutting lending and savings rates.


Virgin who announced a 0.25 per cent cut in mortgage rates has decided to slash 0.5 per cent off its savings rate, while Abbey National has guaranteed its rates cut will be no more than 0.1 per cent.

Recommended

Martin Currie launches portfolio service

Martin Currie Unit Trusts is launching a portfolio service offers investors the choice of either growth or income through the use of two of the company&#39s managed funds, the Income Portfolio and the Growth Portfolio.Both funds have a Standard & Poor&#39s Fund Research A rating.The minimum investment is £10,000, although for investors wishing to receive […]

Premier&#39s High Income Trust exceeds expectations

Premier Fund Managers has surpassed its expectations and raised £40m with its first venture into the investment trust market. It had hoped to raise £25m.Its Premier High Income Trust, a split capital investment trust raised £19.5m through investments in ordinary shares, £15.4m through zero dividend preference shares. The remainder was raised through bank borrowings.The trust […]

State of the markets: UK equity income

Artemis Income Fund manager Nick Shenton discusses the state of the UK equity income market with journalist Alexis Xydias. With the first three months of 2015 showing strong returns for both the Artemis Income Fund and UK markets generally, Nick Shenton discusses the fund’s top contributors – including overseas holdings Novartis and Bayer – and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment