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Credit Suisse set to raise commission to 4 per cent

Credit Suisse Asset Management is raising the commission on its multi-manager range from 3 per cent to 4 per cent until the end of January 2006.

The company’s multi-manager team of six is led by Gary Potter and Robert Burdett who moved from Rothschild in 2001. From a standing start, they have accrued funds of over 833m in four years, although this includes the purchase and integration of Artemis’ fund of funds range in March this year.

The team’s most recent launch was the 75m-capped incubator fund in August, designed to take significant stakes in smaller funds and boutique start-up portfolios.

IFAs can take all 4 per cent as commission or rebate it to clients to reduce the initial charge. The offer will also be available through major fund supermarkets, including Cofunds and FundsNetwork.

CSAM sales director Mark Thomas says: “We are delig- hted to be able to offer this added flexibility as part of our ongoing commitment to intermediaries and investors acr- oss the UK. This offer gives increased choice to intermediaries allowing them to take control of charges.”


NU and Standard clash over s32 closure

Norwich Union is closing its section 32 pension contract, saying the product is redundant, despite Standard Life revealing it has doubled its s32 market share. NU says the Revenue’s announcement that pension scheme members will not lose any tax-free cash entitlements over 25 per cent if the trustees close their scheme after A-Day has killed […]

Blunder by FSA costs Sesame IFAs 12 a week

Sesame advisers face a 2.5m bill from the FSA after the regulator refused to take responsibility for undercharging the network earlier this year. The company was undercharged on its 2004/05 fees in August and has now admitted defeat in its battle to get the FSA to write off the 2.5m by persuading it to take […]

Adviser demanding redress from CII for lost exam papers

An adviser whose exam papers were lost by the Chartered Insurance Institute’s courier company is demanding compensation and threatening to resign his membership. Senior consultant of an unnamed IFA and Fellow of the Personal Finance Society John Dunckley has slammed the CII’s refusal to compensate advisers for lost hours spent revising despite pursuing compensation of […]

Trusts and Taxations

Take a look at the trusts and trustee taxation video – The definition and classification of trusts. Once you’ve viewed the boxset, visit our Test Centre to test your learning and get your CPD certificate. View here


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