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GE Financial introduce Guaranteed Pep

GE Financial Fund Management, the newly formed sister company to bonds specialist GE Financial Assurance, has taken its first steps into the highly competitive Pep market with the launch of its EuroPep I.

Following the lead set by Legal & General and HSBC, the Pep invests in a Dublin based closed end investment company. This allows the full single company and general Pep allowance to be combined, thus permitting investments of up to £9,000 per investor.

GE Financial believe the Pep will have widespread appeal, in light of the recent stockmarket volatility, as it guarantees the return of the initial investment plus 130 per cent of any growth in the FTSE Eurotop 100 stockmarket index. However, this is subject to a maximum of 175 per cent of the initial investment.

According to the company it initially intends to concentrate on the Pep market and the EuroPep I is anticipated to be the first of four subsequent launches aimed at raising around £30m. But the company has not ruled out entering the actively managed fund market rather than just concentrating on guaranteed products.


PIA expels five small IFAs

The Personal Investment Authority has doled out another swathe of expulsions and fines to smaller IFAs. It has also refused membership to firms previously authorised to do investment business by Fimbra.Roger Fish & Company has been expelled and fined £2000 for non-payment of membership fees and for failing to give an undertaking that it would […]

Fedelta offers Offshore pension scheme for ex-pats

Isle of Man based specialist pension consultants, Fedelta Pensions, has introduced its International Pension Scheme to the offshore market. The scheme is based on the UK small self-administered scheme but provides for greater flexibility as it is not restricted by the SSAS investment guidelines.Fedelta is targeting the scheme at employers of UK domiciled ex-patriates currently […]

Foreman to quit as R&SA chief executive

The chief executive of Royal & SunAlliance Peter Foreman is quitting the position at the end of this month. Foreman will be replaced by current group finance director Paul Spencer.Julian Hance, another internal appointment will replace Spencer.Foreman is also quitting his post as a Group Director Europe but will remain on the board until the […]

Clerical Medical revamps sales team

Clerical Medical has announced plans to reorganise its sales arm following the retirement of its sales general manager David Arthur in November.The sales team will be divided by function into pure sales and business development.The new dedicated sales arm, headed by assistant general manager sales Graeme Riddoch, will concentrate on building IFA relationships, sales management […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


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