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Funds set to gain from demolition job on Sipps

Fund managers stand to benefit from Chancellor Gordon Brown’s shock scrapping of residential property from Sipps as advisers look to put clients’ money elsewhere.

Property funds are the most obvious beneficiaries of Brown’s U-turn but investors are also likely to broaden their portfolios following the change.

Threadneedle communications director Richard Eats says there is no longer a danger of investors putting all their Sipp into inflated residential property. He expects property funds and real estate investment trusts to benefit and he is also optimistic that products that provide diversification of risk such as absolute return bond funds will prosper.

Gerrard Investment Management communications director Brian Tora expects cautious managed funds and income funds to capitalise as well as products offering low vola- tility and diversification.

He says: “I am inclined to say I told you so. Those who have set up operations to deal with putting residential property into Sipps will be considerably disadvantaged by the Chancellor’s move but I would expect the investment industry to take up the challenge presen- ted by the opportunity for more diversification.”


IFAs lose accountants’ referral deal

IFAs have lost their exclusive right to referrals from accountants as the Institute of Chartered Accountants of England and Wales widens its rules to include multi-ties. The Law Society may follow suit and allow lawyers to make referrals to multi-ties, with a decision due in early 2006. Previously, introductions could only be made to independent […]

PFS supports CI name but rejects tiered cancer cover

The Personal Finance Society says the name of critical-illness insurance should be kept despite industry objections but two-tier cancer definitions are not a viable option. In response to the ABI’s consultation on best practice for critical illness, the PFS says CI should not be rebadged despite concerns it can mislead consumers. It warns that any […]

Picture is Clear for Tenet wrap move

Tenet aims to move its adv- isers to a wrap-based business model with the launch of a series of online tools and services called Clear. The network is signed up to the Lifetime wrap but says many advisers are confused by the technology and how it can help to streamline their businesses. Clear, which will […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


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