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Iceland trade unions urged to bolster liquidity

Iceland’s trade unions are being urged to repatriate foreign assets to shore up extra funding for the country’s financial system.

Pension funds are being asked to repatriate foreign assets as the Central Bank looks to strengthen foreign exchange reserves.

Last week, the Icelandic government nationalised the country’s third largest bank, Glitnir, sending the local Krona currency into freefall and leading many rating agencies to slash the country’s credit ratings.

Market speculation is heightening today over a possible billion euro bailout by the government but some analysts have expressed concern that such action would be insufficient to alleviate further turmoil in the country.


Crisis of confidence

How must consumers be feeling about the financial services sector right now? At a time when our industry has been devoting so much energy and resources to increasing consumer understanding and confidence in financial services, we can only speculate about how much of that work has been eroded by recent events.

Alpha force

It has been hard to escape the hype surrounding absolute return funds, particularly BlackRock UK absolute alpha. For a number of consecutive months, the sector has been the biggest taker of net new assets and BlackRock’s fund has grown to more than £1.5bn. Good luck to it but does it justify the hype?

Broker Talkback

Do you believe that personal accounts will launch on time despite current market turmoil?No 75%Yes 25%No “Hopefully not. It is a rubbish idea and with current conditions it will be even worse. “Andrew Martin, Key BenefitsYes “There may be some tweaking in terms of the mechanics of the investments but I can’t see them abandoning […]

John Pattullo

It is the 30th anniversary of the Henderson preference & bond fund this week and despite an “exceptionally poor” past month, co-manager John Pattullo remains upbeat about the prospects for the bond market.

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


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