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Fund firms split over FSA ad moves

The move by the FSA to increase the information included in the main body of financial ads will push investors towards seeking out advice, claim fund managers.

By compelling fund managers to include past performance warnings and further information about bond yields in their marketing materials, Thread-needle believes consumers will be more likely to seek financial advice.

The company says the industry had anticipated a crackdown on the use of past performance and has already reduced the use of performance in ads.

Director of communications Richard Eats says: “The more information you give people, the more they are going to be driven towards intermediaries to help them understand it.”

However, other groups say making it more difficult to use past performance in marketing will act as a barrier to smaller fund houses which do not have a strong brand name on which to base their ads.

Invesco Perpetual says it welcomes the move to ensure past performance is used in a way that does not confuse consumers but says it makes it difficult for new entrants or fund management houses which have not focused on creating a brand name to challenge the more established companies.

Marketing director Angus Woolhouse says: “It puts greater emphasis on those fund management companies that have historically developed a strong brand name recognition. The industry needs some sense of standardisation as to how we can use the information going forward.”


Providers set to continue with £5m regulation subsidy

A deal has been reached in the long-running negotiations between Aifa and the ABI, which will see providers contributing £4m to £5m a year to help subsidise IFAs&#39 regulatory costs, Money Marketing understands.Negotiations have been going on since before N2, with Aifa eager to continue the subsidy of between £4m and £6m that IFAs received […]

Homeloan Management wins highest European rating

Third party administrator Homeloan Management has been awarded the highest ever rating given to a European mortgage servicer by rating agency Fitch.Citing its comprehensive service offering, strong internal control environment and admin capabilities, Fitch has decided on a rating of RPS2 for HML – the best European rating and one notch below the maximum level.

Baronworth takes combi approach to with-profits

Baronworth Investment Services has unveiled series five of its combination investment, which splits investors&#39 capital equally between a guaranteed income bond and a with-profits bond.Half of the investment will go into Countrywide Assured&#39s two-year guaranteed income bond. This offers a return of 6 per cent a year, but investors who prefer monthly income will get […]

F&C appoints Robin Hubbard

F&C Management has appointed Robin Hubbard as investment manager on its emerging markets fixed income desk.Hubbard will cover the debt markets of Panama, Peru, Turkey and Venezuela. He will be based in London reporting to the head of fixed income, Helene Williamson.Hubbard was previously JP Morgan Chase’s head of emerging market debt research, prior to […]


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