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HSBC Pan-European team gutted by Cazenove

HSBC&#39s five-strong Pan-European team – including star fund managers Tim Russell and Chris Rice – has resigned to join Cazenove.

The five fund managers, also including Julie Dean, Steve Cordell and Wade Pollard, are expected to join Cazenove over the coming weeks, although Russell and Rice are believed to be locked-in for four months.

Until now, Cazenove had been a small player in the market, concentrating principally on its fund of funds offering.



Life with L&G

A client of mine wants to invest £35,000 in a low-risk portfolio for income and growth – £7,000 of this will go into a fixed-interest Isa, with the balance into a mix of with-profits and distribution. Who to use? Best to try to use just one investment bond for the with-profits and distribution to get […]

Funds feeling the heat in July falls

The average equity fund fell by 9.42 per cent in July, with Latin America suffering the most, dropping 14.92 per cent, according to the latest Lipper monthly fund report. Only three of the 31 IMA unit trust and Oeic sectors produced positive returns last month and none was an equity sector. The index bear fund […]

AMP slashes payouts by 15% as profits rise

AMP Pearl is cutting payouts on with-profits life policies by 12.5 per cent and by 15 per cent on with-profits pensions. AMP UK Financial Services managing director Tom Fraser says the move is in line with what other companies are doing but accepts that the cuts could be seen as the introduction of market value […]

Now L&H claims cheapest 10-yr fix

Leeds & Holbeck Building Society is offering what it claims to be the cheapest-ever 10-year fixed-rate mortgage at 5.25 per cent. The rate follows rival Yorkshire Building Society unveiling what it claimed to be the lowest flexible 10-year fix at 5.44 per cent last week. The L&H rate is only available to clients taking its […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


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