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Fund firms attack &#39blind support by the Govt&#39

Fund managers have slammed the Treasury&#39s backing of the Sandler report, saying the Government&#39s view is a nonsense which will do nothing to close the savings gap.

At the seminar, Treasury financial secretary Ruth Kelly endorsed Sandler&#39s stakeholder suite and said the Government agreed it was essential that a price cap is imposed.

But Fidelity says a cap will be counter-productive for consumers, who it believes are considered weak-minded by the Government.

New Star says no rational argument for a cap has been made and that the Government is simply backing Sandler to create some kind of synergy with stakeholder pensions.

The Investment Management Association says price controls invariably defeat their own objective and that mutual funds as regulated, simple, transparent and flexible products already fulfil the criteria required for the stakeholder suite.

Fidelity managing director Richard Wastcoat says: “The Government seems to be blindly supporting Sandler and we are not convinced the review will mean a step-change for consumers.”


Brave new world of defined-contribution pensions

The Pensions Management Institute is holding a seminar on defined contribution plans on October 30 in central London.The seminar, which is aimed at pensions professionals and finance or HR directors, will provide an update on the issues surrounding defined contributions and how plans are being used to meet the needs of employers and employees.Speakers will […]

Schroders sails in with ads

Schroders is rolling out a new advertising campaign in the trade press on the back of its recent sponsorship deal with the London Boat Show.The campaign will focus on promoting its UK Mid 250 fund, which celebrates its three-year anniversary next month.Ads will run in the trade papers until the end of November and will […]

Insight Investments – Insight Investments European Smaller Companies

Friday, 18 October 2002 Type: Oeic Aim: Income by investing in European smaller companies Minimum investment: Lump sum £2,000, monthly £100 Investment split: 100% in European smaller companies Isa link: Yes Pep transfers: Yes Charges: Initial 5.25%, annual 1.5% Commission: Initial 3%, renewal 0.5% Tel: 0845 8506050

Prudential goes flexible

Prudential – Prudential Flexible Income Drawdown Plan Type: Income drawdown Minimum investment: Lump sum £100,000 Investment choice: Choice of three investment strategies &#45 cautious, standard, adventurous or 25 funds from M&G, Prudential, Merrill Lynch, Newton, Invesco Perpetual, UBS and Schroder. Charges: Annual 0.8 &#45 1.5% Allocation rates: 96 &#45 99% Commission: Initial 3%, renewal 0.5% […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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