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Bankhall tells IFAs to move on

IFA service provider Bankhall says IFAs must accept that the FSA is set in its plans to abolish polarisation and that they must look to the future.

While expressing concerns over confusion amongst consumers, Bankhall operations director Tony Murrell says: “We see no sense in trying to fight a lost battle of trying to maintain the present structure. Polarisation is now finished and we have to accept that.”


Julian Gibbs

In a recent survey of all the funds ranked AAA, AA or A by Standard & Poor&#39s and by Feri Trust, the well-known German rating agency, 87.5 per cent of Fidelity&#39s funds were shown to have one of the top three ratings.Threadneedle came next, with 71 per cent of its funds being rated AAA, AA […]

Mortgages plc taken over in £40m deal

Sub-prime lender Mortgages plc has sold 87.5 per cent of its shares to Euro-pean finance company Nikko Principal Invest-ments for £40m in a bid to build its position in the market.It says it has had negotiations with a number of financial institutions in the UK and the US over the past months about raising capital […]

Fund sales see partial recovery after US attacks

Net retail sales of unit trusts and Oeics showed some signs of recovery in November, according to Autif figures.Total net sales reached £1.4bn compared with £1.7bn a year earlier while net retail sales of £591m were well below the previous year&#39s figure of £1bn.But Autif says it is encouraging that November&#39s sales were more than […]

Mercantile Building Society discount

Mercantile Building Society, discounted mortgageDiscounted term: 3 yearsDiscount: 1.65%Payable rate: 4.19%Minimum loan: Maximum loan:Income multiples: Arrangement fee: Redemption fee: discount and benefits reclaimedConditions: no tie in after discountIntroducer&#39s fee:Tel: 0191 295 9500

India budget: BJP focuses on growth

By Kunal Desai, Head of Indian Equities

With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.


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