Manulife has launched a hostile bid for rival Canada Life which could result in windfalls of around £4,000 for the UK investors who accepted shares when Canada Life demutualised in 1999.
If successful and approved by regulators, it would result in the fourth biggest insurance company in North America and the tenth largest in the world.
Bill Healey, Merrill Lynch's head of European high-yield bonds, has beenmade redundant following the merger of the fund manager's fixed-incomedesks.In a move which has prompted a number of IFAs to put the £150mhigh-income bond fund Healey co-managed on hold, Merrill has consolidatedits European high-yield team into its investment-grade division in a bid tocut costs.The company […]
IFAs are a cheaper distribution channel than their direct-selling rivalswhen it comes to nearly two-thirds of unit-linked and with-profitsproducts, according to the latest FSA disclosure survey.The survey, from December 2001, looks at 24 products comparing the totalremuneration advisers received over five years. It shows that in 15 out of24 products, IFAs accepted a total remuneration […]
When Ludwig Wittgenstein completed his first major work, his new publisherwanted to know what to tell the reviewers and was desperately keen to findout what it was all about. To his utter dismay, the 20th Century's greatestphilosopher replied that what was really interesting about hisground-breaking study of the nature of meaning was – “what it […]
Scottish Mutual has finally closed the door on all with-profits.The news follows the company's decision to offer a modern Sandler-stylesmooth managed fund, as revealed by Money Marketing in October. Parentcompany Abbey National pumped £575m into its life subsidiary last year.However, ScotMut will still accept increments for existing life and pensionwith-profits policyholders and new section 32 […]
Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery.
In the video, Burnett addresses the following:
• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk
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Pensions minister Guy Opperman is hoping the single financial guidance body will be established by winter. Opperman updated delegates at the ABI retirement conference today on how the guidance body is progressing. Currently the government is looking for a chair and chief executive who, once hired, will start looking at how the single guidance body combining […]
The FCA’s recent discussion paper, DP18/2: Transforming Culture in Financial Services, focused heavily on how to drive cultural change within an organisation. A number of the paper’s contributors highlight that focusing solely on senior management behaviour and the ‘tone from the top’ overlooks the complexity of organisational culture and the role all employees have in […]
Jupiter Asset Management is concerned markets could see further volatility in the latter part of 2018, while the strength of the dollar could also threaten global growth. Speaking at Jupiter Asset Management’s annual investment dinner last night, fund manager Ariel Bezalal said: “Our concern is that what we had in February with the shocking rise in […]