Standard Life has appointed Sir Brian Stewart as its new chairman to take over from John Trott who retires on June 30. Stewart is chairman of brewing giant Scottish & Newcastle. He has been a non-executive director of Standard since April 1993. Trott has been with the life office since joining as a non-executive director in January 1974.
The failure of this year's Isa season will force fund firms to scrap expensive mailshots in favour of simple, point-of-sale marketing aids, says Credit Suisse Asset Management. Writing in this week's Money Marketing, managing director Ian Chimes says fund managers must take drastic action to change the way they market funds to IFAs and their […]
Sales figures from IFA fund supermarket Cofunds show that income-seeking funds were by far the most popular choice in the recently closed Isa season. The number of incomeseeking funds in Cofunds' top 20 best sellers has more than doubled this year and represents 16 funds from seven in the previous season. No smaller company, European […]
Credit Suisse's income fund was the top-seller on supermarket Cofunds this Isa season for the second year running. From January 1 to April 5 the fund outsold Liontrust's first income fund, which came second, Legal & General's fixed interest fund in third and Old Mutual's corporate bond fund in fourth. Fidelity's special situations fund, often […]
Higher-rate taxpayers will face a tax rise of 2 per cent on encashment of life investment products next year after changes to the taxation of life investment bonds in last week's Budget. The underlying life fund will be taxed at 20 per cent rather than 22 per cent, leaving the higher-rate taxpayers facing tax bills […]
Alex Ralph, manager of the Artemis High Income Fund, talks about high-yield bonds in the US and Europe – and why she favours the latter.
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
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