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Chase starts up fund supermarket

Chase Manhattan Bank&#39s global investor services is linking up with

e-technology company Investia in a $20m venture offering an outsourced fund

supermarket service to product providers.

FundsHub is aiming to target banks and insurers looking to break into the

online investment market for the first time.

Product providers can connect to the supermar ket and offer their prod-

ucts direct.

The companies say the supermarket will transform the industry by giving UK

and European providers the means to offer online investment services to

their customers and keep their own brand without hav ing to go through

expen sive online development programmes.

FundsHub chief executive Mark Collier says: “In the leading markets, the

top four or five banks usually account for 75-80 per cent of net sales.

“Non-domestic fund managers account for only 7 per cent of total sales

across the Continent. Consumers are being underserviced and overcharged.”


IFAs miss domain event as addresses go quick

IFAs appear to be failing to embrace the technological revolution, leadingthem to miss out on scooping some of the best internet address namesavailable.Many of the top domain names which would have been ideal for IFA websiteshave fallen into the hands of speculators looking to cash in by sellingthem on.Among the potential addresses already taken are […]

Setting standards to improve long-term insurance picture

Whether justified or not, the insurance industry is regarded with a degreeof caut ion and mistrust by many of our customers and this applies toproviders and intermediaries.Such mistrust is neither good for the consumer, whom it discourages frommaking the kind of financial provision they will need for the long term,nor for our businesses.We are all […]

Inland Revenue boosts security after CGT man&#39s insider dealing

The Inland Revenue is strengthening security on clearing proceduresfollowing the admission of insider dealing by a middle manager in itscapital gains clearance section.Lawrence Champion pleaded guilty to 13 counts of insider dealing atWarwick Crown Court last week. His criminal activity netted him just over£15,000.Champion was one of three people within the Revenue&#39s Solihull capitalgains clearing […]

FSA in move to stamp out money launderers

The FSA has set out its strategy for IFAs in the fight against moneylaundering.In its new role, required by the Financial Services and Markets Bill, theregulator will have the power to institute criminal proceedings forbreaches of the money laundering regulations of 1993.The rules include ensuring the names and addresses of new customers areknown, keeping records, […]

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]


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