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Investment funds sales double

New retail sales of investment funds fell in January but were still double those at the same time last year, according to the IMA. Its monthly statistics show that sales slid to £505m last month from £844m in December 2003 although this was still far in excess of January 2003, when sales were just £249m. Net Isa sales also fell, to £184m from £209m, but were again up on last January&#39s figure of £156m.

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Final Menu rules due second half of year

The FSA plans to publish its final rules in the second half of the year, when it will unveil its policy statement giving feedback on the consultation. The consultation finishes on June 1, after which the FSA will review the responses and amend its draft rules accordingly. As the Menu is key part of the […]

Close Venture Management -Close Brothers Development VCT C Shares

Type: Venture capital trust Aim: Growth by investing in unquoted companies Minimum investment: Lump sum £1,000 Opening/closing date: January 21, 2004/April 2, 2004 Charges: Initial 5%, annual 2% Commission: Initial 2.5% Tel: 020 7426 4315

Value of advice must be spelt out alongside cost – Aifa

Aifa director general Paul Smee believes today&#39s publication of the Menu will enable the value of advice to be spelt out alongside its cost. He says: “Although this is probably over engineered, with too many products, we broadly have the core now, and we can now use this to demonstrate the value of advice.” He […]

Thomson&#39s set for name change in Euro push

IFA Thomson&#39s Group may adopt the name of its German parent AWD Holding as part of its bid to become the UK&#39s leading European IFA. The group is believed to be considering the name change which would not necessarily see the Thomson&#39s name disappear entirely but would give a better indication of its attachment to […]

Brexit Commentary from Natixis Global Asset Management

By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]

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