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Building society advances down in December

Building society gross advances amounted to £2,037m in December 2000, down 14 per cent from November, although still up on the previous year&#39s figures.

Approvals of new loans fell by 33 per cent to £1,653m in December, down from £2,457m in November, although this reflects the removal of Bradford & Bingley from the sector following its demutualisation on December 4, 2000.

Building Societies Association director general Adrian Coles says: “Even without including B&B within the building society figures, net receipts for the sector were more than double those for December 1999.”


ScotEq roadshow survey reveals little enthusiasm for IPAs

Individual pension acc ounts could prove to be an embarrassing white elephant for the Government, according to research by Scottish Equitable among IFAs. Just 17 per cent of the 1,750 advisers surveyed by ScotEq at its nationwide roadshows in November believe the Government&#39s proposed pension account will provide a valuable addition. IPAs are scheduled to […]

Gartmore – Gartmore Japan Focus Fund

Wednesday, 24th January 2001.Aim: Growth by investing in quoted large and mid cap Japanese companies.Minimum investment: Lump sum £1,000 monthly £50, Isa lump sum £3,000 monthly £100.Investment split: 100 per cent in quoted large and mid cap Japanese companies.Isa link: Yes.Pep transfers: Yes.Charges: Initial 5.25 per cent, annual 1.5 per cent until January 31, 2002, […]

Will Axa herald dawn of the online multi-tie?

The news that Axa is establishing a website to advise customers on its own and competitor products has fuel led speculation that it is planning to reposition itself as an online multi-tie. The move has prompted experts such as Financial Tech nology Centre director Ian McKenna to predict that Axa&#39s strategy could be the thin […]

ProVen turns to media

ProVen private Equity has introduced its media venture capital trust (VCT) that allows up to 15 per cent of the fund to invest in US media businesses. The ProVen media VCT aims to provide long term capital growth by investing in media related companies and those who help other companies promote their brand names by […]


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