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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The Pensions Ombudsman and The Pensions Regulator have agreed to share information to increase their understanding of issues in the sector. The agreement follows the FCA and TPR announcing in February they will work together on a strategy to tackle risks in the pensions sector over the next five to 10 years. The agreement announced […]
Platform Alliance Trust Savings continues to be affected by staff departures as three senior executives are understood to have left the business. Money Marketing understands commercial director Ed Carey and customer services director Gordon Murray have recently resigned from their posts. According to LinkedIn, Carey joined ATS in 2016 as sales director before taking on the commercial […]