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Fof money grows to 29bn

Cautious managed funds led the way as investment in funds of funds reached an all-time high in the final quarter of 2006, according to the Investment Management Association.

Total funds under management in Fofs reached 29bn in the fourth quarter, up from 27bn at the end of the third quarter and 24 per cent higher than in the final quarter of 2005.

Total net sales were 729m in the fourth quarter, with net retail sales amounting to 610m. This was an increase of 8 per cent on third-quarter net retail inflows but a fall of 6 per cent on the final quarter of 2005.

The most popular sector in the fourth quarter was cautious managed with some 317m of new inflows. However, the balanced managed sector remained most popular overall, accounting for over two-thirds of total money invested in Fofs.

Total net retail sales over 2006 reached their highest level with inflows of 2.9bn.

Three-quarters of the total new money invested in the fourth quarter went into unfettered Fofs.


Survey reveals cash adultery of secret savings

Personal finance website The Motley Fool claims that many couples are engaged in “financial adultery”.In a survey of 1,610 of the website’s users, nine out of 10 say their partners know how much they earn and three out of five couples say they have joint bank accounts.But The Motley Fool also finds that one in […]

Rights issues

With changes hanging over protected rights benefits for pensions , what can be done to help clients??

Wealth check

We are currently seeing active transfers of both people and businesses. In the beautiful game, we have Ronaldo indicating that he may be off to climates more glamourous than Manchester and the gossip pages saying that Roman Abramovich will have sold Chelsea by next season. All this football hearsay falls away compared with the financial services gossip.

HL bonuses hit 21m as director is paid 9m

Directors at Hargreaves Lansdown earned nearly 21m in bonuses last year, up from 3m in 2005.Accounts show the highest-paid director was paid 9.1m. Co-founders Stephen Lansdown and Peter Hargreaves own 80 per cent of the business’s equity but Lansdown refuses to reveal who took home the biggest paycheck.He says the bonus rise reflects the 46 […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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