General Electric has left the US sub-prime mortgage market, selling subsidiary WMC Mortgage Securities. Staff numbers have fallen from 1,200 to 700 this year. US mortgage lender Alliance Bancorp has gone bankrupt after the sub-prime downturn.
Dr Marius Barnard has called on the protection industry to “resurge” long-term care insurance, claiming “it is the product of the future”.At the Protection Review dinner in London last week, Dr Barnard, the architect of critical-illness cover and one of the pioneers of heart transplant surgery, said due to Britain’s aging population, long-term care will […]
BDO Stoy Hayward Investment Management is starting a fund focusing on highend residential property in central London.The Hyde Park fund will be unregulated and run in conjunction with the firm’s Dublin arm, Simpson Xavier. It will invest in residential properties in Westminster, the West End, Kensington and Chelsea and part of Camden.With a minimum investment […]
Scottish Widows Investment Partnership is looking to boost sales into continental European with the launch of a Luxemburg-based Sicav.Eight funds will be placed in the Sicav initially, with all being offered in euro and dollar denominations.Head of distribution Simon Wombwell says: “Offering a Sicav structure will further increase the availability of Swip’s funds throughout continental […]
Morningstar has given Sanjeev Shah a significantly above average chance of outperforming the market in its first major review of the Fidelity Special Situations fund.
AlphaSimplex Group believes that the most robust investment products are those that adapt to changing market conditions. Alex Healey, portfolio manager of the ASG Managed Futures Fund, talks about how holding “long” and “short” positions in alternative investments, to match market trends, can create opportunities in both up and down markets.
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Justin Modray says the RDR will make little difference in the way most advisers are paid.
M&G is merging its Global Leaders fund into the Global Themes fund in the wake of a review resulting from fund manager Aled Smith’s decision to step down. The proposed merger has been approved by the regulator but is still subject to approval from shareholders. The Global Themes fund will continue to be managed by […]
Face-to-face advice still holds a firm place in serving clients, despite an increasing demand for mobile and remote services in adviser practices. Research from consolidator Fairstone from November shows there has been a 10 per cent decrease in the use of face-to-face financial advisers over the past seven years. However, advisers speaking to Money Marketing […]