Equitable Lifes negligence claim against its former auditors Ernst & Young opens in court on April 11. The fight has been ongoing since 2001 when Equitable launched a claim for over 2bn against the accountancy firm. E&Y is accused of signing off the firms accounts without warning of the impending crisis over guaranteed annuity rates. The total cost of the trial is estimated at around 100m.
HSBC is raising premiums for existing critical-illness cover policyholders by up to 30 per cent.
Guaranteed Investment Bond
The FSA has appointed investigators into the alleged conduct of Berkeley Berry Birch director Michael Cleary in respect of his role in relation to the acquisition of Berry Birch & Noble Financial Services.Cleary was the sole director of Berry Birch & Noble Financial Services when it was purchased by Berry Birch & Noble Financial Planning […]
West Bromwich Building Society has bought mortgage intermediary franchise company Mortgageforce.
By Robin Geffen, fund manager and CEO
This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar.
In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.
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Royal Bank of Scotland has joined rivals like HSBC in launching an automated investment advice service for more than five million customers. The bank claims to be the first bank in the UK to launch a “fully regulated” robo-advice service, which will be under its NatWest brand. The service, live from Monday, is targeted at […]
There is nearly £8.5bn in “drifted” legacy UK equity income funds that have underperformed against the sector over the past decade, research has found. As the fund management industry awaits Mifid II next year, Morningstar has analysed the competitive UK Equity Income sector on behalf of Money Marketing and found about 10 per cent of the sector’s […]
Old Mutual Global Investors has appointed Freddie Woolfe head of responsible investment and stewardship, reporting into chief executive Richard Buxton. Woolfe joins from Newton Investment Management, where he was a responsible investment analyst primarily covering the healthcare and technology, media and telecommunications sectors. Previously he held roles at Hermes Equity Ownership Services and HSBC. Woolfe will […]