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B&B disposes of property services

Bradford & Bingley has completed the disposal of its property services businesses, Bradford & Bingley Estate Agents and SecureMove Property Services Ltd, to Countrywide for £44.3m in cash. B&B says the sale proceeds are expected to be used in the normal course of business.

Group chief executive Steven Crawshaw says: “The announcement of these disposals continues the refocus of the group towards our core businesses of specialist lending and branch based retail of financial services. Four out of five disposals are now complete and
excellent progress is being made with the cost cutting programmes that we announced in May.”


FSA says trail commission cannot always be accounted for.

Regulators have told the Treasury select committee that trail commission cannot always be accounted for.In its response the committee&#39s report the FSA said that small amounts of trail could not always be recorded.It also emphasised its commitment to cutting down on commission when no advice has been given.

Skandia hands out £250m in mandates

Skandia Investment Management has awarded £250m in fund mandates. The firm has awarded two mandates for its £600m active UK portfolio, with UBS given a £185 value mandate and Gartmore Asset Management given a £65 pragmatic growth mandate. SIM marketing manager David Orr says this is one of the biggest retail mandates ever awarded in […]

Kleinwort offers hedge fund range in joint deal

Kleinwort Benson Private Bank is setting up a range of onshore funds tracking major hedge fund indices in association with boutique Bespoke Financial Consulting. The products, including the FTSE broad hedge fund and S&P broad hedge fund index-tracking portfolios, will be launched by Bespoke, with Kleinwort acting as investment manager. They will be in an […]

&#39Advisers not using tech systems to full capacity&#39

The majority of advisers are processing new business electronically but most are not using the services to their full capacity, according to The Exchange. Its report shows that 81 per cent of the 500 IFAs surveyed through IFA portal Exweb are processing new business electronically but 92 per cent are not using the technology to […]

Sticking to valuation discipline when investing in China

Journalist Alexis Xydias discusses the opportunities – and potential pitfalls – of investing in China with Artemis fund manager Peter Saacke. With Peter holding significant positions in China in the Artemis funds he manages, journalist Alexis Xydias quizzes Peter on the risks of investing in Chinese stocks – including over-valuations, margin trading and financial reporting issues. Click here for video


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