Hedge funds are to be sold to small investors for the first time next year by Credit Suisse First Boston. Traditionally used by the super rich to achieve very high returns on their cash, hedge funds usually have a minimum investment of £150,000. However, the CSFB fund will start at £7000 and can be placed in a tax free individual savings account. It will focus on low risk and low volatility with fees being kept to a minimum. Companies in the UK are usually banned from selling hedge funds to small investors by the FSA. But CSFB has found a way to overcome this by structuring the fund as a Dublin listed company allowing the fund to be marketed in the UK as authorised and registered.
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Government offers grants to meet IFA exam costs
IFAs could benefit from a Government handout to help them meet the cost of professional exams such as the Advanced Financial Planning Certificate or the Certificate of Financial Planning. One of the barriers preventing many IFAs from sitting these qualifications had been the prohibitive costs but now the Government is offering grants. The Department of […]
Tories to consult IFAs on whether its pension will work
The Conservatives are looking to consult with IFAs and other financial services exp erts to see if the party's proposed alternative pension policy is workable. The Tories are establishing a committee led by Lord Blackwell, former head of ex-Prime Minister John Maj or's 10 Downing Street Policy Unit, to consult the industry on the party's […]
Ist Software launches IFA service on website
Specialist technology company 1st Software is launching a 24 hour IFA service on its website.. The site will allow IFAs to offer their client access to their financial information at anytime. A wide range of services will be offered including portfolio valuations and pensions information. Ist Software managing director Rory Curran says “We believe the […]
iShares bring in new US-style fund
Rutter adds: “Effectively this is an index tracker and we have seen these prove very popular with both the experienced and the first-time investor. There are also low charges, daily dealing and the fact that the product is available as an Isa.”Examining the drawbacks that the product provides, French says: “As with any other tracker […]
Case study: administration — managing group life schemes
Our client leads the global market in high-tech electronics manufacturing and digital media. The trustees of the company’s final salary pension scheme insure death-in-service lump sum and dependants’ pension death benefits for active employees, as well as dependants’ pension benefits for deferred members (those who have left service).
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Compliance tip: Mifid II transaction reporting and legal entity identifiers
Transaction reporting Transaction reporting is the reporting of information about trades in reportable financial instruments, such as shares, ETFs, VCTs, investment trusts and structured products. Reporting covers purchases, sales and modifications of reportable instruments. Mifid II proposes important changes to these obligations which will potentially affect all investment firms. Some exemptions will apply. For instance, […]
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Vanguard on criticism of the LifeStrategy range and changing perceptions of the firm
It may look strange that the second largest asset manager in the world is now pushing its new active funds in the UK market at a time when passive funds are seeing record flows. But having amassed more than $215bn globally in its funds since the start of the year, this is unlikely to be […]
Matt Timmins: New guidance body has no right to word ‘advice’
Much more needs to be done to help educate consumers on the vital difference between receiving guidance or advice