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Egg hatches floatation plans

Egg has confirmed it plans for a partial stock market flotation later on this year in a bid to become more focused.

Egg parent Prudential says customers will be able to buy 15-25 per cent of the bank and hopes the flotation will value Egg at £2.75bn.

Egg has 940,000 customers and has taken £7.6bn in deposits in its 18 month history.

Egg chief executive Jonathan Bloomer says: “We want Egg to have the sort of focus you get from a public listing.”


Invesco scoop top investment award

Invesco Fund Managers has received an award for operating the best performing fund available to UK investors, by Reuters subsidiary Lipper.Lipper&#39s top award, the Lipper Leader Statue, was presented to Invesco for its GT Smaller Companies fund for generating returns of 488.24 per cent in 1999.Other winners included Henry Cooke Investment Funds, Aberdeen Unit Trust […]

Fees fear for stakeholder&#39s undoing

Allied Dunbar believes stakeholder is in danger of failing unless consumers overcome their hatred of having to pay fees for advice.The life office commissioned Dataquest Research Consultants to conduct focus group interviews with six groups of ten people around the country and found that the vast majority were reluctant to part with cash up front […]

Stamp duty campaign boost

Brewin Dolphin Securities is putting its weight behind the e-petition to “stamp out stamp duty” by encouraging clients and employees to show their support.The on-line petition, which is being co-ordinated by the Association of Private Client Investment Managers and Stockbrokers, will be sent to Chancellor Gordon Brown some time after the March budget.Apcims says the […]

Pensions ruling may save £200m

Pensioners are set to benefit from a court of appeal ruling which could save pension funds £200m in tax.The case was brought against the Government by two of the biggest pension schemes in Britain which argued sub-underwriting was an integral part of their investing activities and as such should be tax exempt.Sub-underwriting refers to the […]

Parental leave and pensions

Fiona Hanrahan  – Senior Product Insight and Technical Support Analyst We are often asked how parental leave impacts workplace pension schemes in terms of funding in general, auto enrolment and salary exchange. This article will explain each of these. How does parental leave impact the funding of workplace pension schemes? A member of a defined […]


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