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Clydesdale floats with £1.6bn market cap

CYBG, formerly Clydesdale Bank, floated on the London Stock Exchange today with a market capitalisation of around £1.58bn. The former arm of National Australia Bank priced its 219,828,814 ordinary shares at 180p. CYBG chief executive David Duffy says: “This is truly a landmark day for CYBG as we move towards becoming an independent banking group […]

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Govt moves towards flat rate on pension tax relief

The Treasury has moved away from a radical move that would see pensions taxed like Isas in favour of the industry’s favoured flat rate of relief. Chancellor George Osborne is believed to be designing a “hybrid” model with a flat rate set between 25 and 33 per cent, the Financial Times reports. A consultation launched […]

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Invesco Perpetual challenger fund beats SLI’s GARS inflows

Invesco Perpetual’s Global Targeted Returns fund has seen larger inflows than Standard Life Global Absolute Returns fund in the past year. In the 12 months to 20 January Invesco Perpetual’s GARS challenger fund clocked up £3.6bn of net inflows, compared to £2.9bn for Standard Life’s fund. The Invesco Perpetual fund, run by three former GARS […]

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Liontrust shuts bond fund after managers quit

Liontrust Asset Management is to shut down its GF Global Strategic Bond fund in the wake of the resignation of the portfolio’s co-managers Michael Mabbutt and Felix Martin. Dealing in the £33m Dublin-based vehicle was suspended on 15 January and it is set to be wound up on 29 January, after which all money will […]

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