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Big is better, says Isis

The manager of Baronsmead VCTs says that greater size can give a trust an advantage.
David Thorp believes that larger portfolios can become more diversified and hence reduce risk. He also thinks that larger VCTS are able to absorb fixed costs to the benefit of investors.
A share issue for Baronsmead VCT 2, which is part of Isis Asset Management, is seeking to add an additional £20m to the trust, which will be £60m when fully subscribed.
Thorp says: “In the longer term the liquidity of VCTs can also be expected to improve with lower dicsounts and narrower spreads.”


Trade body is being set up for mutual insurance companies

A trade body for mutual insurers is set to be launched this week. The new body, which is understood to be called the Association of Mutual Insurers, is believed to be headed by International Co-operative Mutual Insurance Federation chief executive Shaun Tarbuck. The launch comes as a cross-party group of MPs – the all-party group […]

&#39CML is out of touch with mortgage brokers&#39

The Council of Mortgage Lenders lacks understanding of mortgage intermediaries, says a broker at London adviser Alexander Hall. Alexander Hall chief operating officer Andy Pratt accuses the CML of failing to understand the role of the intermediary, accusing it of focusing on lenders and consumers without considering distribution. Pratt says the CML has been disappointing […]

HBOS decides against Abbey bid

HBOS has announced it has decided not to proceed with an offer for Abbey. Further to the announcement on August 2 in respect of a potential combination with Abbey, HBOS analysis has concluded the shareholder value inherent in its existing prospects is superior to that achievable through a combination.

Feathers fly over turkey roasting

LIA director general Mark Ommanney has hit back at former LIA chief executive Jeff Travis who said that LIA members voting for the merger are like turkeys voting for Christmas. Ommanney says a merger would lead to the LIA being part of a stronger more unified voice for advisers. He believes it would allow advisers […]


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