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.
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'Isa failure spells end of pricey mailshots'
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 […]
Income-seeking Isas dominate Cofunds top 20
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 dominates Cofunds' Isa sales
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 […]
Tax to rise on life bonds
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 […]
Artemis High Income: Crunches vs wobbles
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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FCA to crack down on ambulance chasers
Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Martin Tilley: Keeping on top of Sipp proposition dilution
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
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Fears over investment trust sales as new disclosure hikes costs
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]