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Equity fund invests in recycling firms

The Waste & Resources Action Programme is launching an equity fund which invests solely in recycling companies.

Managed by Impax Asset Management, the fund aims to boost recycling by narrowing the gap between the availability of investment capital and the demands of medium size firms in the recycling sector.

Wrap, a non-profit making organisation, is aiming to secure £1m from private investors in addition to the £4m committed to the fund by one of its subsidiaries.

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Retiring IFAs auction client lists on website

National IFA Positive Solutions is taking the innovative step of auctioning off the client lists of retiring IFAs on its intranet site.IFA John Stevens became the first of its RIs to make use of the service by selling his list of clients to the highest bidder following two weeks of bidding.By choosing the Relax option […]

MGM plan offers 110% guarantee

MGM Assurance is offering a structured product which guarantees the return of 110 per cent of the initial investment after its five-and-a-half-year lifespan.The growth assured bond, which starts on June 30, will pay on maturity the greater of 110 per cent of the initial investment or 45 per cent growth in the value of the […]

IFA says Pru admin crisis hitting pensions

The crisis appears to be growing at the Prudential, with reports emerging that the admin problems are extending beyond protection to its pension business as well.One IFA claims that one of her advisers was told the life office has diverted its pension admin staff to sort out the protection problems, leaving them unable to provide […]

No safe harbour for IFAs as FSA &#39fails&#39 on misselling

The publication of the FSA&#39s long-awaited definition of misselling has been met with resounding criticism for failing to provide a safe harbour for IFAs.Trade bodies and IFAs have branded the attempt a failed opportunity which does not get to the nub of the issue. They also say the professional indemnity insurance market will not be […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.

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