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IMA urges radical reforms to boost long term savings

The Investment Management Association is calling for the Chancellor to make radical reforms to restore confidence in long-term savings.

IMA chief executive Richard Saunders “We are of course disappointed that the Government is set on abolishing the ISA dividend tax credit, thus removing a central plank of its flagship savings product. We welcome, however, the commitment to continue to examine the taxation of savings.”

On other aspects of the report, the IMA welcomed the proposals to deal with the offshore funds regime and the FSA&#39s new rules on authorised funds in 2004. Saunders added: ” these should be seen, however, as short-term fixes pending a more fundamental review.&#39


Platinum dazzles in China

Platinum Capital Management has created a hedge fund that will take a long and short investment approach to Chinese companies and companies based elsewhere that will profit from growth in China. The Platinum dynasty fund has a target return of between 15 per cent and 20 per cent a year. It was introduced because Platinum […]

Cofunds claims 54% of supermarkets&#39 Isa sales

Cofunds claims it now has over half of the market for Isa sales by fund supermarkets. It says it has a 54 per cent share of Isa business, a big rise from 37 per cent for the second quarter. The firm says its assets have risen by 25 per cent to £1.4bn in the last […]

Chelsea Building Society – 2 year Fixed Rate Option (3rd Issue)

Type: High-interest account Minimum-maximum investment: £1,000-£500,000 Term: Until February 14, 2006 Interest rates: 4.75% gross a year, 4.65% gross a month Offer period: Until further notice Withdrawal penalties: Loss of 90 days&#39 interest during the term Tel: 0800 429429

Flawed Sandler survey means more research needed as filters falter

The FSA is to embark on a second round of research into the Sandler sales process, saying a flawed interview process meant that its initial research has proved inconclusive. The regulator says the research published this week shows that recommendations made by non-FPC advisers to the 502 consumers taking part in the project generally matched […]


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