View more on these topics

F&C shares sold to Eureko for £414m

German bank Hypo Vere ins bank has sold its majority shareholding in UK fund manager Foreign & Colonial for £414m to European financial services group Eureko.

The deal ends months of speculation after the Ger man bank announced its decision to seek a buyer last September.

An F&C spokesman says it is business as usual at the fund manager and it intends to go ahead with the launch of several new unit trusts aimed at the IFA market at the end of Feb ruary, a move it announced last autumn.

Eureko&#39s asset management business, EGAM, will be combined with F&C under the F&C brand. The new entity will have £75.6bn in funds under management.

F&C chief executive Robert Jenkins will bec ome chief executive officer of the new business which will be based in London. The rest of the F&C board will also remain in place.

Head of UK retail Philip Childs says: “The incoming shareholder is fully supportive of the UK retail strategy and so it is business as usual. We are int ending to go ahead with the new product launch.”

Eureko chief executive João Talone says: “This acquisition affirms the commitment of the group to the asset management business and positions the future enlarged F&C as a leading pan-European asset management company.”


Smee tells MPs to see IFAs over FSAVCs

Aifa director general Paul Smee is planning to write to MPs, advocating the benefits of IFAs and urging them to seek advice over their Equitable Life FSAVC policies. Smee plans to contact MPs following comments by the head of the Parliamentary pensions unit trustees and former Conservative Cabinet minister John MacGregor stressing the importance of […]

New members of SIPP Providers Group committee

The SIPP Providers Group elected three new members to its committee at its AGM in December. John Hayward of Carr Sheppards Crossthwaite, Francis Moore of European Pensions Management Limited and Ian Stewart of Denton&#39s Pension Management were all appointed. Martin Cadman of MC Trustees took the place of John Moret as chairman. Cadman says: “With […]

Pinnacle bond pins hopes on Nasdaq

The protected bonus bond from Pinnacle Insurance is a single premium bond that is designed for investors who usually opt for building society accounts.The bond is linked to the performance of the Nasdaq 100 index over a five-year term through the Pinnacle protected bonus bond fund.Investors will get their original capital return plus up to […]

Stakeholder sweepstake

The year will have a flying start as stakeholder loose ends are tied up and we prepare to enter the brave new world of defined contributions. Many customers take advantage of the last chance to set up old-style life insurance and waiver. April arrives and stakeholder becomes a reality. Pension-sharing orders are coming through from […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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