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Government plans funding management probe

The Government is planning hard hitting review of the fund management industry despite glossing over it in the Budget speech.

The Treasury want to know why institutional investors, who control 45 per cent of the quoted equity market, invest so little in the British economy&#39s grassroots.

Gordon Brown announced of the review between statements on British venture capital firms, leading some fund managers and consultants to believe its focus would be narrow.

But Gartmore Investment Management executive chairman Paul Myners who is heading it is to be given wide powers.

He is likely to question the competence of pension fund trustees, the domination of a handful of investment consultancies and the vested interests of fund managers.


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Halifax swoops in on St James

Halifax, the UK&#39s largest mortgage lender, is buying a 60 per cent share in St. James&#39s Place Capital in an agreed takeover which values the life insurer at £1.27bn .The £760m purchase gives the bank a bigger share of the long-term savings market among the wealthy and compliments Halifax&#39s existing savings business which it conducts […]

Enterprise Management Incentives

As “trailed” in November&#39s pre-Budget report the Government will be introducing a new Enterprise Management Incentives scheme in the next Finance Bill. These schemes, (EMIs), will encourage key employees to join small higher risk companies by offering access to a tax-advantaged share option scheme. Under the scheme independent trading companies with gross assets not exceeding […]


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