View more on these topics

Gartmore strengthens Fof range

Gartmore plans to bolster its sparse fund of funds range later this year with up to five new core and high-alpha portfolios as it bids to break the hegemony of the major multi-managers.

Despite recruiting Bambos Hambi and team last year, Gartmore still only offers one Fof, its £360m portfolio balanced strategy fund, which manager Marcus Brookes says is “not all things to all people”.

The new portfolios, due to be rolled out in the coming months, will plug gaps in core areas, giving Hambi and his team scope to seek higher returns with less benchmark-oriented funds.

The core proposition is likely to be fleshed out with two funds, one seeking income and the other growth. Unlike the balanced fund, which has minimum cash and fixed-interest weightings, at least one of the new portfolios is expected to be fully invested in equities.

Gartmore also plans to offer high-alpha funds as Brookes says the group is in need of riskier products to generate strong outperformance. With its IFA research only just completed, however, he says no further details are available, with the number of launches still under discussion.

Brookes says: “Stockmarkets could be fairly dull and to generate outperformance, you need to take active risks. We need something different. We will also be filling out the core end with different options.”


Smee warning that payment menu is the last chance for commission

Aifa director general Paul Smee is warning the industry that failure to embrace the spirit of the menu could see commission-based advice slipping away. Smee says if the industry does not use the opportunity of the menu to make commission more transparent then he believes the regulator will come back with more ideas beyond the […]

Skipton launches new mortgage range

Skipton Building Society has launched a new range of mortgages which includes a flexible three year fixed rate mortgage at 5.69 per cent, a flexible three year capped rate mortgage at an initial rate of 4.99 per cent (capped at 5.75%) and a flexible base rate tracker at an initial rate of 4.50 per cent. […]

Western Provident holds PMI rates for small firms

Western Provident Association is freezing the premiums on its enterprise flexible benefits scheme aimed at small, corporate, PMI customers. The scheme caters to employers with between three to 100 staff. Customers who were underwritten when they joined WPA have had their premiums frozen. This discount has now been extended to six years at 30 per […]

Interdependence fined £125k for drawdown advice

The FSA has fined Tenet-owned network Interdep-endence £125,000 for what it calls “serious failings in the supervision of appointed representatives”. The fine relates to income drawdown advice that Interdependence RIs were giving customers, recommending that they withdraw cash early from their pensions. The FSA heavily criticised the “ineffectiveness of the firm&#39s systems and controls” for […]

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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