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GMAC denies it is up for sale

GMAC RFC says it is not for sale despite General Motors’ negotiations for the sale of its US commercial arm GMAC Commercial Mortgage. Market speculation surrounding the future of GM’s UK residential arm has been fuelled by the reduction of GM’s status by Moody’s Investors Service to one point above junk on April 5.

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Friends gets personal

Friends Provident has established The Personal Range which comprises an individual personal pension and stakeholder pension.

UBS absolute fund takes 40m

The UBS absolute return bond fund has taken 40m in inflows during its three-week offer period. The Ucits 3 fund aims to generate a return regardless of market conditions through a diversified global bond portfolio. the targeted gross performance objective is UK bank rate plus 2.15 per cent with an anticipated volatility of 3 per […]

Strategic Bond Fund from Artemis

Artemis is launching a strategic bond fund in the second quarter of this year. The fund will be run by James Foster and Alex Ralph, who join Artemis this month from Isis.

L&G pays 139m in compensation

Legal & General has paid out 139m to settle pension and endowment misselling compensation claims. The figure includes the cost of its pension and endowment sales reviews and related admin costs.

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