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Gross mortgages lowest for two years

Gross mortgage lending in December was at its lowest monthly figure for over two years, falling by 25 per cent from November’s figure. The Council of Mortgage Lenders estimates December’s gross lending at 22.6bn, the lowest monthly figure since May 2005.

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Parmenion aims at £15bn SSAS sector

Parmenion Capital Partners is launching a small self-administered scheme with Premier Pension Services.Parmenion, which offers outsourced investment platform services, will provide discretionary investment management of the assets via its platform for the Consolidation Ssas while PPS will provide scheme admin.It says Ssass are still a viable product for many company directors, particularly in relation to […]

Shapiro to run best ideas fund for Collins Stewart

Collins Stewart Fund Management is to start a UK best ideas fund under the management of David Shapiro.Shapiro, previously head of value at Morley Asset Management, will run the portfolio out of his investment firm Greentrees Partners, a joint venture set up with CFSM in September.The fund will hold 30 evenly weighted stocks and is […]

IFAs say CGT changes will bring bond market to a standstill

Around 66 per cent of advisers say that capital gains tax changes announced in the pre-Budget report will lead to a sharp fall in new investment bond business or could even halt sales completely.A survey by CWC Research found that 66 per cent of advisers said they would very rarely recommend investment bonds if the […]

Algorithm adviser in switch to guilty plea

A financial adviser faces a lengthy jail term after changing his plea to admit breaches of the Financial Services Act during a hearing before the High Court in Glasgow.Raymond Coia, 42, from Ayrshire, had initially denied a series of charges against him – that he had defrauded more than 300 investors out of more than […]

Artemis Monthly Distribution Fund: positioning and outlook

Managers James Foster and Jacob de Tusch-Lec outline the fund’s investment approach and discuss current investment themes and outlook for the bond and equity markets. As James and Jacob confirm, the Artemis Monthly Distribution Fund’s aim is to generate an income from both equities and bonds. They explain their investment approach in each asset class, the sectors where they are […]

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