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Marlborough cuts special sits’ charge

Marlborough Fund Managers is reducing the 5 per cent initial charge to 3.25 per cent on direct investments into its 126m special situations fund until October 31. Managed by Giles Hargreave, the fund has returned 580 per cent since Hargreave took it over in July 1998.

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Where did it go wrong on paperwork?

A friend and client of mine has a small Prudential pension policy (fund value 1,800). He has just received documents and papers for the commencement of the annuity and the payment of the lump sum. The number of pages in these documents? There were 79. In the immortal words asked of the great George Best: […]

Ex-Colonial worker will look again at loan case

Former Colonial Mutual Group Holdings employee Maurice Timbrell says the court ruling will help him revisit his case against Winterthur. Timbrell brought a case against the firm in 2001, claiming that the CMGH salesforce was not regulated, did not have adequate training and left workers unable to pay back up-front loans given by the firm. […]

Vertex, Exchange in straight-through deal

Vertex and The Exchange are setting up a new business unit that will look to deliver straight-through life and pension processing. Vertex Life, Pensions and Distribution will be headed by David Childs.

Reckless driving

The Government has developed such a nasty habit for U-turns that it is amazing anyone in financial services ever gets anywhere. Added to property in Sipps comes Hips and arguably Asps. There have been many other changes of stance but these are the big ones that have seen intermediaries and everyone else in financial services […]

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