Automatic enrolment provider Now: Pensions has come under fire for hitting employers with an exit fee if they choose to switch to a different scheme within two years. Under scheme rules in place since it launched in 2012, employers who decide to switch provider within the first 24 months have to pay a fine depending […]
This year’s Budget statement confirmed that up to five million pensioners are to be given new flexibility to trade in their annuities for cash from next year. The rationale is to ensure that people who have already purchased an annuity have access to the same pension freedoms now in place for those approaching retirement. The […]
Private equity firms are circling Seven Investment Management and could value the wealth manager at over £100m, Money Marketing understands. 7IM was founded by Justin Urquhart Stewart and Tom Sheridan in 2001, and has grown from a handful of employees to about 170. It runs about £8bn of assets and is owned by its partners […]
Tesco has posted a record loss of £6.4bn, one of the biggest losses outside of banking in British corporate history. In its annual results, published today, the supermarket group revealed it made a pre-tax loss of £6.38bn in the year to the end of February, compared with a pre-tax profit of £2.3bn the previous year. […]
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, says the financial market has experienced the ‘Marching Band Effect’ over the past few years, with the various elements moving to left and right together and feeling the risks as one, making the effect more dynamic.
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