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Investment call for action to avoid crisis

The UK&#39s fund management industry faces a bleak future unless it adapts quickly to the needs of the global market, according to the Fund Managers&#39 Association.

A new FMA report reveals half of the 77 asset managers that control nearly 90 per cent of the funds under management in Britain, are staffed by executives who have a “notable gap” in their strategic thinking skills.

The warning comes as Schroders prepares to stand solo among the top pension fund managers as a UK-owned independent without any links with global banks.

FMA deputy chairman and Prudential Portfolio Managers chairman Derek Higgs says: “Managing brands, developing leaders and leveraging talent were critical subjects for the industry.”


Nationwide fights ATM charging

Nationwide is intensifying its battle against cash machine charges, with a survey showing consumers want access to their money without incurring penalties.The society&#39s survey found 91 per cent of 984 respondents did not believe the public should be charged for withdrawing their own money.In September last year Nationwide said it would resort to legal action […]

Most people unsure about savings

The wealthy are financially unprepared for their future, according to new research by Mintel.According to the market analyst, 5m UK homes have incomes more than twice the national average of £19,400, but around 40 per cent of these “affluent” homes are uncertain if their retirement provision is adequate.Also, around a third of those surveyed had […]

Misys pulls out of takeover after fact-find fiasco

Misys has pulled out of takeover talks with M&E Network owners Greatminster group after subsidiary network Interdependence admitted botching an undisclosed number of pension review cases. The Hampshire-based 120 member network which was bought by Tenet, a subsidiary of M&E Network owner Greatminster Group in January last year, admits it failed to keep accurate records […]

Isa rates give Tessas a beating

Investors are being warned the gap between Tessa and Isa returns is widening, by statistics provider Moneyfacts.Tessa rates offered by some high street bank have been outstripped by more than one per cent by their Isa replacements.Chase de Vere Investment adviser Janine Starks says Tessa rates are generally beginning to be taken over as providers […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


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