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Fidelity merges income funds

Fidelity Investments is merging its £23m Strategic income fund with its high-income fund to create a £221m unit trust.

The Strategic fund has an 80-20 mix of bonds to equities but has not attracted a lot of investor demand in the low-inflation environment. The merged fund will have a 50-50 balance.

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Financial Options will self-regulate drawdown

IFA network Financial Options is to self-regulate members conducting deferred annuity and income-drawdown business to prevent a possible misselling scandal. The network, which has over 300 member firms and 600 registered individuals, fears many IFAs are unaware of how to give best advice on the complex issue. It is concerned that this could lead to […]

Review likely to cost independents £1.1bn

IFAs are likely to pick up a £1.1bn tab for the pension review, according to research by actuary Bacon & Woodrow. Life offices, policyholders and shareholders will pick up the remaining £9.9bn of the £11bn total bill.

JULIAN GIBBS

One of my favourite investment groups is international bond and equity specialist Guinness Flight Hambro. It has a good record of launching funds at the right time. For example, in early 1994 it launched a global privatisation fund which is now one of the top performers in the international growth sector. Guinness Flight now thinks […]

Redress rehearsal

The Financial Services Authority and PIA last week issued a consultation paper on the next phase of the pension review and redress programme launched in 1994. The review is aimed at people wrongly sold personal pensions when they would have been better off remaining in or joining an occupational pension scheme. The second phase of […]

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.

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