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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Advice giant St James’s Place will block access to its investment platform for 10 days while it migrates services to a new provider. SJP tells Money Marketing that the work will affect online service ability for clients between 19 October and 29 October. A spokesman says: “SJP will carry out essential maintenance to our systems as part […]
This summer saw the S&P 500 rule headlines for enjoying the longest-running bull market in history. Yet, as per the old adage, what goes up inevitably comes down, and it is the job of advisers to manage clients’ portfolios accordingly – either directly or via the third-party investment services they use. A crude assumption might […]
There is currently no minimum qualification level, but the majority of advisers think this needs to change The role of the paraplanner is a relatively new one and its definition and responsibilities can differ hugely between firms. According to the Chartered Institute for Securities and Investment, the role can be broken down into four key […]