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Fund managers face ‘monumental task’ monitoring distribution

Fund managers face a “monumental task” monitoring distribution channels after the FCA raised concerns advised-only products are being sold through non-advised platforms. The regulator revealed last week its thematic review of asset managers had uncovered examples of poor governance and warned firms need to better monitor distribution of funds. In particular, it found two funds […]

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Towry’s 2015 profits hit by Ashcourt Rowan deal

Wealth manager Towry has seen its profits almost halved in 2015 by costs relating to its acquisition of Ashcourt Rowan, while the deal also boosted assets under management, revenues and Ebitda. The firm, which agreed a £120m deal for Ashcourt Rowan in February 2015, saw operating profits dip from £8.3m to £4.2m, in part due […]

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Lloyds sets aside £115m as profits fall

Lloyds Banking Group has set aside £115m for “retail conduct” issues as pre-tax profits for the first three months fell 46 per cent to £654m. The bank has refused to disclose what the provision relates to, but has not set aside any extra money for missold payment protection insurance. Lloyds partly attributes the fall in profits […]

State of the markets: global growth

In conversation with journalist Alexis Xydias, Artemis Global Growth Fund manager Peter Saacke discusses the state of global markets and how he is positioning his fund. Peter gives his views on the growth potential of US, Europe and emerging markets, each of which is on a different stage of the road to recovery. And with a […]

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