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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DB paraplanner appoints liquidator after restriction strangles income
Paraplanning firm Heather Dunne Consulting has gone into liquidation after its principal restricted its pension transfer permissions. Adviser Heather Dunne founded the firm in 2002 to support advisers doing pension transfers and the firm’s biggest client was HDIFA. HDIFA is also run by Dunne but was placed on voluntary suspension in July 2017 when it was […]
Tony Wickenden: More pressure on shielded UK business profits
HMRC is tightening the screw on tax avoidance involving profit fragmentation Tax avoidance continues to drive Treasury and HM Revenue & Customs activity. Over the summer, the Revenue published responses to its consultation on proposals to tackle schemes designed to move UK business profits outside the charge of UK tax, often using offshore trusts and […]
Why protection acceptance rates need more promotion
The FCA recently published feedback on its Call for Input on access to insurance. While this was focused on the ability for people with pre-existing conditions to get travel insurance, it will have wider implications for the protection market – and rightly so. Too many consumers feel they are uninsurable, having been refused cover, even […]
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