View more on these topics

EU opens up more funds to UK IFAs

IFAs will have a broader range of funds at their disposal under a new EU investment fund directive, commonly known as Ucits II, approved this week.

In a first step towards an integrated single market for financial services, investment managers will be all-owed to market their funds across the EU after registration with that country&#39s regulatory authority. It also proposes minimum capital adequacy requirements.

UK fund managers will also be able to create a new category of mixed funds, combining direct equity investment and fund of funds within a single product for the first time. The rules regarding cash and derivatives in funds will also be relaxed.

After protracted negotiation, the measure has been debated and approved by the European Parliament. It is likely to be ratified by the EU Council of Ministers by the end of the year and introduced in the UK by 2003.

Autif deputy director general Sheila Nicoll says: “We hope the Government will implement the directive swiftly so that this country can have a headstart.

“It will mean a wider range of funds available to put in an Isa and will also lead to a relaxation of the kinds of fund offered.”

Plan Invest investment manager Paul Barnes says: “The more flexibility we have the better but I think the traffic is more likely to be from this country than the other way round although there could be a market for the lower-risk lower-return Euro-pean products.”

Recommended

Teather & Greenwood buys Escalon Holdings

Teather & Greenwood is buying Escalon Investments from Rathbone Brothers in a deal that could be worth up to £2.4m.The stockbroker is paying £150,000 up front for the 5 member corporate finance team, with additional payments related to profits.Teather & Greenwood chief executive Ken Ford says: “The acquisition of an established and respected regional team […]

Worlds apart

There often seems to be a shroud of mystery encircling the world of credit scoring and underwriting.For the borrower applying for a homeloan, the desire to understand such a process is probably minimal – until the answer comes back from the mortgage lender as: “No, we can not lend you the money”.According to research from […]

Public turning away from face-to-face advice

More than half of the public would prefer not to have a face-to-face meeting with a financial adviser, according to new research by Marlborough Stirling.Although 47 per cent of consumers prefer to meet their adviser in person, new media channels are gaining a hold with the public as an advice source.Software firm Marlbor-ough Stirling believes […]

SLI lauches revamped website

Scottish Life International is launching its revamped website, with more interactive features than its three-year old predecessor.The new site maintains the sli-central.com dedicated extranet service, with improved accessibility, and adds a trusts and offshore investments information facility.SLI e-commerce analyst Kelly Paterson says: “The desire to improve the design and the amount and quality of the […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com