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Ignis makes cuts on UK equities team

Ignis Asset Management has removed head of UK equities Neil Richardson as part of a restructure of its UK desk.

Richardson and four analysts have been cut from the UK equity team as the firm attempts to improve the performance of its legacy life company funds. The UK team manages more than £10bn of funds.

The announcement comes after on the back of Ignis chief investment officer Mark Lovett’s review of the UK funds.

Richardson and three of the analysts, Finlay MacDonald, Gary McAleese and John Stewart are now in discussions with Ignis over other roles within the company. The remaining analyst, Stacey Cassidy, has joined the Asia team.

Lovett has since taken on the management of the mandates himself with the appointment of new analysts set to be made in due course.

A spokesman for Ignis Asset Management says: “These decisions have been made as part of our plans to improve the performance of our life company funds in the UK. There will be no changes to our retail range on the back of the move as we are happy with performance in that space.”


Axa sets up legacy deal

Axa’s offshore wealth arm, Axa Wealth International, has bolstered its trust range offering with the launch of a legacy planning bond. The legacy planning bond will sit alongside the estate plann- ing bond. Axa Wealth International says the move is designed to offer advisers the choice of having IHT planning solutions from both the Isle […]


Pru distribution director says restricted advice not a second-class service

Prudential distribution strategy director Russell Warwick believes advisers will embrace restricted advice models after the RDR and urged the industry not to look at it as a “second- class” service. Speaking at Money Marketing’s RDR Invitational in London this week, Warwick predicted two restricted models will be predominant. He said: “The first is restricted in […]


Passport control

A combination of recent events, plus extensions to EU financial directives and the onset of the RDR have highlighted the progressively greater importance of European aspects for UK IFAs. Last summer, the issue of passporting came to the fore following a suggestion by Aifa that UK-based IFAs should not rule out the option of passporting […]


Obama moves to abolish Freddie Mac and Fannie Mae

The administration of American president Barack Obama today moved to abolish Freddie Mac and Fannie Mae, the gigantic state enterprises that helped channel unsustainable sums of money into housing before the credit crunch. The Obama administration outlined proposals in a white paper released today that aims to reform America’s housing finance market. These include the […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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