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Freetrawl.com achieves 19.5 per cent over surrender value in first year

Freetrawl.com, the website which help IFAs find the best price for clients&#39 traded endowment policies, says it has a successful first year achieving an average of 19.5 per cent over surrender value on Teps traded.

It says this compares with an average value of only 16 per cent by market makers in the traditional Tep market. It made a best offer of 111 per cent over surrender value. Freetrawl.com received over 10,000 policies from IFAs and registrations from nearly 4,000 IFAs.

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ABN Amro Hoare Govett appoints director

ABN Amro Hoare Govett is appointing Gary Gould as associate director in the global investment funds corporate finance team.Gould joins from Old Mutual Securities, and was previously a corporate lawyer with City firm Lawrence Graham, and then with an investment funds team at Rea Brothers.ABN Amro global investment funds team head Bob Cowdell says: “We […]

Fund firms shun the Sunday Times

Five of the UK&#39s biggest fund managers are to withdraw their advertising from the Sunday Times amid claims the newspaper is anti-fund management. Schroders, Threadneedle, Perpetual, Invesco and Aberdeen all say they will not be advertising in the paper for the foreseeable future. IFA Hargreaves Lansdown has also pulled out and other fund managers are […]

NDF and Credit Suisse link up for Tessa Isa

NDF Administration and Credit Suisse First Boston are launching a Tessa-only Isa to take advantage of the £21bn worth of Tessas maturing this year. The Tessa Triple Plus is aimed at people looking to reinvest the capital but not the interest saved in their matured Tessa. Its features include 8 per cent a year tax-free […]

EMX saved after rights issue fails to raise £6m

The failure of online fund trading platform EMX to raise £6m in a rights issue has led to six fund managers stepping in and save the company&#39s future development. Threadneedle, Fidelity, M&G, Scottish Widows, Standard Life and Invesco said they would come to the rescue of the project if it failed to raise £6m through […]

The Downsizing Delusion: Why relying exclusively on your home to fund your retirement may end in tears

By Steve Webb, director of policy The British obsession with homeownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age were planning to rely wholly on the value of their home to fund their retirement. We are not talking about people investing in buy-to-let or […]

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