IFA reaction to Jupiter’s planned global income fund has been mixed, with some advisers voicing concerns that star manager Anthony Nutt may become overstretched.Nutt already runs £4bn in retail money split across the £3.4bn income and £600m high-income trusts. Bestinvest head of communications Justin Modray says: “My main concern would be whether they are stretching the capabilities of the managers too far. For Tony Nutt, this would be a huge expansion of his remit.” The new launch, planned next year, is part of Jupiter’s plans to expand its Sicav range, which also sees earlier new launches for Elena Shaftan and Philip Gibbs this November. Shaftan, who runs the group’s Russian and central European-invested £504m emerging European opportunities fund, will have greater flexibility, with the new emerging Europe select mandate being able to invest up to a third in the Middle East and Africa. The fund will be more small cap focused and capped at £100m. Financial opportunities manager Philip Gibbs will run a global financials fund, which will also have greater small cap exposure. Hargreaves Lansdown head of research Mark Dampier says: “We have a big holding in Elena Shaftan’s present fund and I will certainly buy into her new one. The small cap area is not too liquid so you have to be more careful and I think a smaller-sized fund will help her.” Jupiter hopes the fund launches will also help boost sales in continental Europe and Asia.
Equity release sales rose slightly during the third quarter of the year. Figures from Safe Home Income Plans show its members wrote £295.1m in that period, an increase of 12.3 per cent on Q2 2006 but only 0.51 per cent ahead of Q3 2005. This contributes to an annual rolling year total figure of £1.13bn […]
The Association of Mortgage Intermediaries has launched a factsheet to help members deal with the issues around retention business.The factsheet covers compliance issues when reviewing existing mortgage arrangements and additional issues that will be raised where a client has an existing unregulated mortgage. AMI associate director Rob Griffiths says: “As a growing number of lenders […]
Private investors bought £2.6bn of equities in August and September marking a reversal of the heavy selling of shares in the first half of 2006.Figures from Capita show that August and September are the first time private investors have increased holdings in equities since the beginning of the year.Between February and July this year, investors […]
The figure dwarfs previous estimates, which put the damage to pension schemes, caused by the Chancellor’s decision to remove advanced corporation tax relief from equity dividends in 1997, at 40bn-50bn.
By Amanda Docherty, marketing manager More people than ever are living with critical illnesses like cancer. And this will only increase as the years go on. In fact, the number of people currently living with cancer is expected to grow from 2.8 million to at least 4 million by 2030*. Improving survival rates are, without […]
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Support service provider SimplyBiz has signed a third new deal for defined benefit transfer advice work after its original partner pulled out of the marketplace. In an email to members seen by Money Marketing, compliance director Gary Kershaw apologises for any inconvenience caused by Crowborough-based advice firm CFPML’s decision to exit the DB transfer marketplace. […]
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The Budget will lay out Government plans to help build 300,000 new homes a year, according to Chancellor Philip Hammond. The plans will include fasttracking developments with planning permission. Hammond said the Government would use “powers of state” to get homes built on these sites, according to the BBC. The Government will also unveil plans to […]