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Boots pension switch “a wake up call”

Boots is selling all equities invested in its pension fund and reinvesting in bonds in response to the longevity of its workforce and concerns over the volatility of equity returns.

Industry experts expect more pension funds to follow suit.

Towers Perrin director Mark Duke says: “There are many other companies and pension plans facing far greater risks than Boots. Overall the Boots plan looks in pretty good shape. Perhaps Boots&#39 actions will prove to be a wake up call.”


Support group offers IFA services at fixed rates

A new support group for IFAs directly authorised by the PIA is being launched, claiming to have lower charges for its services than traditional networks and rival services firms.The Support4group has been set up by IFA Philip Horton who runs Charter-house which left the DBS network to become directly regulated in 1998.Fees are levied on […]

Henderson adds to the hedge fund rush

Henderson Global Investors is jumping on the hedge fund bandwagon with its UK equity market neutral fund.With a minimum investment level of $100,000, the fund is aimed at discretionary managers, institutional investors and offshore high-net-worth individuals who are looking for capital growth. The fund is domiciled in the Cayman Islands and is listed on the […]

Designated drivers

The coming of the FSA will radically change the nature of the regulatory regime.For many in the professions the ability to opt out to the designated professional body (DPB) regime allows avoidance of the issue altogether.If only life were so simple. The nature of the Financial Services & Markets Act means that the whole regulated […]

Merrill Lynch HSBC reduces telephone trading charges

Merrill Lynch HSBC is reducing the level of its telephone trading charges on its direct investing service.Merrill Lynch HSBC clients can now trade online or over the telephone for a flat fee of £19.95 per trade for transactions of any size.Merrill Lynch HSBC UK managing director Victor Dodig says: “Whilst the trend towards investors trading […]

Time to stop the salami slicing on tax relief

Steve Webb  – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]


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