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Fund managers “incompetent lemmings”

The average UK pensioner will be £20 worse off a week because of fund managers&#39 incompetence, according to a leading industrialist.

Former Confederation of British Industry director-general Sir John Banham said he calculated the fund managers&#39 who have chased IT stocks in preference of international retail sector stocks had cost every household in the UK more than £10,000.

He says that by chasing performance and undermining traditional stocks fund managers have hit the pockets of pensioners.

Banham called upon investors and business to “think very hard about how we restrain the lemmings before further damage is done to the markets in which we all have a stake”.


Isa guides “may spark mis-selling scandal”

An outraged IFA is calling for direct brokers to be banned from printing Isa guides claiming they could spark another misselling scandal.Dennehy Weller & Co believes direct brokers that claim in their Isa guides they have researched the market to recommend the best Isa providers are breaching FSA regulations because many providers pay cash to […]

Canada Life Bond

Canada Life&#39s High Income Bond Series Three is targeted at investors who have used up their Isa limits and are seeking income from other investments.Linked to the Nasdaq-100 index, which includes technology stocks such as Microsoft, Apple Computers and Yahoo!, the bond pays income on a quarterly or yearly basis. There is also a growth […]

Pensions ruling may save £200m

Pensioners are set to benefit from a court of appeal ruling which could save pension funds £200m in tax.The case was brought against the Government by two of the biggest pension schemes in Britain which argued sub-underwriting was an integral part of their investing activities and as such should be tax exempt.Sub-underwriting refers to the […]

Rothschild to take advantage of tech boom

Rothschild Asset Management is to launching a technology-focused fund of funds to take advantage of the tech boom story.The Five Arrows Independent Technology Plus+ Fund is subject to regulatory approval and will be available to investors from April 10.RAM will invest in a range of onshore and offshore technology-biased funds. But it will target funds […]


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