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.
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: […]
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 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.
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 […]
Loomis Sayles senior equity strategist Richard Skaggs reviews the events that have helped to shape various markets during the third quarter of 2016 and takes a look at the outlook for growth in the US over the next few months and into 20. Click here
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The rise in IHT takings has prompted complaints around the new residence nil rate band’s impact
The Association of Investment Companies will not be hosting the new key information documents on its website saying to do so would be irresponsible. Since 1 January, Priips legislation has meant advisers have to publish a stand-alone, standardised KID to their client including performance scenarios, risks, and the total cost of products. However, trade bodies […]
The Financial Services Compensation Scheme has paid out £5.7m so far to nearly 800 customers of collapsed discretionary fund manager Strand Capital. The payments were made to 796 investors over the past two weeks. The payments related to client cash only. The compensation was paid directly into customers’ self-invested personal pensions. An administrator’s report published in […]