Shares in Sedgwick Group rose by 5p to 146p as the firm posted a 6 per cent increase in pre-tax profits for 1997. Pre-tax profits grew to £101.2m from £95.5m in 1996 but the strength of sterling hit the figures by £10.2m.
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The PIC of the bunch?
One of the greatest challenges facing the UK as the millennium approaches is support for its ageing population. It is already becoming clear that ensuring that individuals are self-sufficient in retirement is high on the Government's agenda. Consumer surveys still show a worrying lack of knowledge regarding the question of post-retirement provision and, more worryingly, […]
Credit-impaired loans from Verso
Verso is rolling out two mortgages targeted at borrowers with poor credit ratings as part of its drive into the IFA market. Launched by Britannia Building Society with £6m investment, Verso is dedicated to the IFA market. Its Rent and Buy product lets borrowers move house and rent out their old property. Borrowers repurchasing or […]
PERSPECTIVE
A medium-sized life office, NPI has found it impossible to shake off rumours that it is about to demutualise at a time when life offices with similar problems, such as Scottish Amicable, are being taken over. It has been a turbulent few years for NPI. April 1998: NPI announces a £260m securitisation deal. February 1998: […]
Higher return from lower expectations
I was very surprised by the comments of the normally excellent Julian Gibbs (Money Marketing, November 20). He is completely mistaken to say that “in reality it is most unlikely that any of the major world stockmarkets will be lower in five-and-a-half years”. He should know that it is only because there is a very […]
Mark Page: why my biggest overweight stock is a discount Spanish retailer
Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]
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True Potential fund range pulls in £2bn as FCA probes model portfolios
True Potential’s discretionary portfolios have attracted £2bn in the past year, with inflows up 200 per cent. The firm has announced that the 10-strong suite of funds are currently seeing daily inflows of £10m, with the range now holding £3bn in assets under management. The figures have been released as model portfolios come under the […]
Aviva Investors loses senior manager amid multi-asset shake-up
Aviva Investors multi-asset senior fund manager Nick Samouilhan is to leave the firm after seven years “to pursue other opportunities” within the industry. Samouilhan, who manages Aviva’s risk-targeted multi-asset funds and co-manages its £2.4bn Multi Strategy Target Income fund, will be replaced by Gavin Counsell, who currently manages a number of other multi-asset funds for […]
Nationwide starts paying mortgage adviser retention fees
Lender acknowledges “valuable support” of intermediaries
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