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The merger of Old Mutual Asset Managers and Gerrard Investment Funds has led to head of fixed interest Bob Attridge and head of emerging markets Ashok Shah both losing their positions. They have been offered alternative roles within the company.

Lincoln Unit Trust Managers is permanently reducing the initial charge on its corporate bond product to 3.5 per cent from 5 per cent. LUTM says the cut will directly affect yields on the product, increasing income yield to 6.41 per cent from 6.31 per cent and the gross redemption yield to 5.31 per cent from 5.10 per cent.

Royal London Asset Management has app-ointed Victoria Muir as marketing manager of investment trusts. Muir joins in the new year from LeggMason Inves-tors Asset Managers.

Aberdeen Asset Management has appointed Simon Akroyd and James Thompson to establish a private-client office in London. They both join from Cazenove.

Friends Ivory & Sime Private Equity is to be renamed Isis Capital. The company says its core areas of interest will remain business services, consumer markets, healthcare, information technology and media and communications.


More PIA regulatory action

The PIA has taken action against two more IFA firms in what has been one of the busiest winters in recent memory as far as regulatory action is concerned.This time around the PIA has fined Wingrove Associates Assurance & Financial Consultants of Flat 7, 22 Lewes Crescent, Kemp Town, Brighton £10,000 for pensions review failings. […]

Quester – Quester VCT 5

Tuesday, December 4, 2001.Aim: Growth by investing in unquoted companies.Minimum investment: £3,000.Opening-closing date: December 4, 2001-April 3, 2002 for 2001/2002tax year, May 31, 2002 for 2002/2003 tax year.Charges: Subject to negotiation.Commission: Initial 3 per cent.Tel: 020 7227 3333.

Early retirement hopes dashed

Eight out of ten Britons would like to retire early, according to research from HSBC but most people are simply not saving enough to achieve their required annual pension.Around a quarter, 24 per cent, of adults are estimated to be contributing less than £50 per month, which for a 25 year old hoping to retire […]

&#39Shun FSA&#39s half-baked fund tables&#39

Consumers should shun the FSA&#39s “half-baked” comparative tables and use websites that contain full fund information, says Autif director of communications Anne McMeehan.Speaking at the Money Marketing IFA UK conference in London last week, McMeehan said: “Go to the FT website and you will see ratings, past performance, risk and cost-based statistics. Go there for […]

Changes to early exit pension charges

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]


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