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Firms want details on LTC plans

Long-term care providers are urging the Government to clarify its

proposals on using private sector care to take the pressure off the NHS.

Health minister John Denham this week revealed that elderly patients not

well enough to return home could go into the private nursing sector. The

proposal, to be tabled in the summer, will form part of the Government&#39s

plans to modernise the NHS.

Independent healthcare providers say the proposals could allow dovetailing

between the public and private sectors in providing care as LTC insurance

policyholders have to wait three months before they can claim.

Martin Currie plans to launch two new funds. Both the African

Opportunities fund and the Martin Currie Absolute fund Japan will be

offshore, open-ended vehicles. They will be listed on the Irish stock

exchange in Dublin and will have a minimum investment of £60,000. The

African fund will be geared towards long-term capital appreciation by

investing predominantly in South and sub-Saharan African companies.

Scottish Equitable is to target the over-40s in a recruitment campaign for

100 new staff. A spokesman says: “In the recent past we have successfully

integrated large numbers of older people into our workforce. This has been

of mutual benefit – the dynamism of the young added to the experience and

maturity of the older generation is a winning combination.”


Exclusive: Egg lays into mortgage market

Egg the on-line branch of Prudential has purchased a 37 per cent stake in IF On-line, the mortgage trading platform.The deal worth £15m according to Egg sources, will give the bank its first presence in the mortgage business.IF On-line came out of the former CML electronic trading project.Egg head of media relations Pema Radhi says: […]

8 out of 10 investors prefer Isas, says Mori

More than eight out of 10 people say they may take out an ISA in the next year according to MORI research. MORI polled 1,061 people in the UK on behalf of IFA Network, the independent financial advisers&#39 administrative support company. IFA Network says the findings suggest ISAs have encouraged a savings culture promoted by […]

Paymaster push for DC admin

Specialist pension administrator Paymaster is aiming to make a major pushinto the defined-contribution admin-istration market.Paymaster, which is part of the Hogg Robinson group of companies, believesthe future of pension administration lies within the defined-contributionstructure.It plans to create a “centre of excellence” at its Crawley office inSussex, staffed by a team of defined-contribution admin experts.The team, […]

Gartmore £1bn sale

NatWest&#39s fund management business Gartmore has been sold for more than £1bn to Nationwide Mutual, a US insurer based in Ohio.Nationwide Mutual which began life as a farmers&#39 co-operative is paying £1.03bn for the firm, following a cut throat auction conducted by investment bank DLJ. The payment of £110 million for net assets and £920 […]

Mark Page: why my biggest overweight stock is a discount Spanish retailer

Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]


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