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Friends Ivory & Sime launches socially responsible investment service

Friends Ivory & Sime has launched a socially responsible investment service in response to the Government&#39s ethical pensions regulations.

The Responsible Engagement Overlay is designed to fit the new regulations from the Government requiring pensions funds to state to what extent social, ethical and environmental considerations have been taken into account in the investment process.

The REO enables pension funds to engage constructively with the companies they invest in and encourage the companies to adopt ethical policies.


Clerical Medical set to convert unit trusts to Oeic

Clerical Medical Unit Trusts will switch its range of unit trusts to open ended investment company during the first quarter of next year.The range of UK and overseas trusts will become sub-funds of an Oeic, under the title Clerical Medical Investment Funds.Unit-linked life and pension funds currently invested in the unit trusts will be switched […]

Northern Rock cuts mortgage rate

Northern Rock has cut its standard variable mortgage rate by 0.6 per cent to 6.89 per cent from 6.95 per cent.The move follows the recent 0.25 per cent reduction in the Bank of England&#39s base rate.The rate change will take immediate effect for new borrowers. Existing borrowers will have to wait until July 24 before […]

Bradford & Bingley&#39s conversion could kill the mutual sector

The Treasury Select Committee inquiry into mutuality has been warned Bradford & Bingley&#39s proposed conversion will kill the mutual building society sector.Loughborough University professor of money and banking David Llewellyn warned the Committee investigating demutualisation the building society sector will be plunged into chaos and will not be able to compete with plcs if B&B […]

CII to create internet database

The Chartered Insurance Institute is to create an internet site providing a comprehensive database of insurance information.The site has received £75,000 sponsorship from the Worshipful Company of Insurers. It is designed to complement the CII&#39s existing library of catalogues and journals.The database is intended to provide insurance practitioners and academic researchers with a first port […]


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