View more on these topics

Fund Distribution Limited reveals 97 per cent of investors accept first distribution offer

Fund Distribution Limited has revealed that 97 per cent of investors have accepted its first distribution offer.

FDL says that 113m has been paid out to around 24,600 investors out of a total of 43,000 qualifying investments.

The first distribution payments cover losses of 284m and represents a recovery of around 40 per cent of losses after allowing for payments made by others.

An estimated 29.5 m is expected to be made available for the second distribution which is likely to equate to 10p in the pound, although the final amount cannot be determined until FDL’s final costs and income are known.

FDL plans to announce and distribute the second distribution in the last quarter of this year.

The board is also working towards the formal winding-up of FDL which is expected to commence once the second distribution payment has been made.

Recommended

Term believer

Andy Milburn is quite right to comment that clients should be careful not to be placed in a worse position when replacing existing term cover with an alternative tax-relieved solution. This should never be the case with the Lutine replacement cover for term insurance. First, we have a Lutine guide for our “partner IFAs” and […]

FinanceCube offering web solution for advisers

FinanceCube has introduced an online portfolio management service in the UK that it says will shield advisers’ business from the growing threat of the internet. Former Quay Software head of marketing Philip Calvert has been appointed as sales director to lead the launch, which incorporates a web-based software platform using Microsoft. net technology. The platform […]

Brexit Commentary from Natixis Global Asset Management

By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com