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Citigroup buys Future Mortgages

Citigroup, the world&#39s biggest financial services company, is buying Future Mortgages through its Citibank Overseas Investment Corp arm.

Citigroup is not disclosing the sum paid for Future Mortgages, which originates over £300m in mortgages annually.

Citigroup UK consumer finance business head Terry Williams says: “The UK consumer market continues to offer attractive opportunities. We have major ambitions in the mortgage market and Future Mortgages provides an excellent fit.”


Yorkshire launches combination bond

Yorkshire Building Society is launching a combination bond giving returns from a fixed rate bond and a with-profits income bond.The bond, which has a minimum invesrtment of £10,000, is split equally between a Yorkshire Building Society fixed rate bond paying 7.25 per cent and a Legal & General with profits income bond.The fixed rate bond […]

Forsyth Partners launches new Dublin based funds

Research and investment management company Forsyth Partners is launching two new funds in its Dublin based fund of funds Sicav, Forsyth plc.The new funds are specifically designed for sterling based investors and are denominated in sterling.The Forsyth Sterling Global Balanced Fund aims to achieve long-term capital growth and has the FTSE Private Investor Balanced Portfolio […]

New Star shines brightly in Europe

New Star Asset Management has introduced the European growth fund, an open-ended investment company that aims for capital growth by investing in Europe excluding the UK.The fund is managed by Richard Pease, who managed Jupiter Asset Management&#39s European fund between January 1990 and December 2000.As New Star&#39s recently appointed head of European equity management, he […]

Warning of low life expectancy for the industry

The financial services industry faces challenges on many fronts. Stakeholder is unlikely to return a profit for the majority of providers, the financial strength of life offices is being squeezed and consumers are rejecting equities for deposit-based accounts.This gloomy picture is painted in Cazalet Financial Consulting&#39s Life 2001 study of the industry. Influential and outspoken […]

DB transfers – one more factor to consider

Jim Grant – Senior Product Insight & Technical Support Analyst We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from final salary schemes to personal pensions. This is a […]


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