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FSCS processing 501 claims against BIA

The Financial Services Compensation Scheme is processing 501 claims against Berkeley Independent Advisers, 354 of which relate to endowments. Berry Birch & Noble Financial Planning (Weston) has now been declared in default by the FSCS, with five claims against the firm.

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Wind of change is a bonus for Hiscox 68m portfolio

Hiscox insurance portfolio manager Alec Foster says the 68m fund’s recent performance has been driven by the benign US hurricane season. Foster says many insurers took evasive action after destructive hurricane seasons in 2004 and 2005 by increasing premiums. The 32-stock fund has a 40 per cent weighting in reinsurance and Foster says it has […]

Edward Jones segments its UK operation

Edward Jones has restructred its UK operation dividing the group into five regions with dedicated leaders. The five regions are Scotland and Northern Ireland, the North, Midlands and North London, East Anglia and the South. The US firm has 200 investment advisers across the UK. Edward Jones UK principal Tim Kirley says: “Our philosophy is […]

DTI will remove audit requirements

The DTI has laid regulations to remove audit requirements for small regulated firms and appointed representatives after an FSA study. The new regime comes into force in November and the FSA estimates it will save firms £15.25m, with the biggest beneficiaries being financial advisers.

SVM to launch ‘positive screening’ pan European SRI fund

SVM Asset Management is launching the all Europe Socially Responsible investment (SRI) fund on October 31.The fund will be run by SVM Continental Europe manager Hugh Cuthbert and SVM UK opportunities manager Neil Veitch and will adopt a ‘positive screening’ approach to investing by engaging with companies rather than ‘negative screening’ which automatically excludes many […]

Testing the Foundation

The global economy isn’t headed into recession, at least not yet. This month, David Lafferty, Chief Market Strategist at Natixis Global Asset Management, examines current capital market and portfolio risks for signs of recession. Click Here for Capital Market Notes

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