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Meteor acquires  NDF and DRL investment books

Meteor is to acquire the structured product investment books of NDF Administration and Defined Returns Limited from administrator Grant Thornton for an undisclosed sum, subject to final due diligence.  

Meteor will take on responsibility for administration of accounts including the processing of income payments, surrenders and maturities. It will not take on planholders who are invested in Lehman backed products.   

The firm recently increased its third party administration capability and says the acquisition significantly increases both the number of its clients and assets under administration.

It will be writing to IFAs and all affected planholders advising them of the change of the administration of their plans and will be posting an online Q&A section on its website. 

Managing director Graham Devile says: “We are delighted to have made this purchase as we believe this should bring greater stability to the structured product market, following events of the past few months, as well as adding to Meteor’s growing reputation within the sector as a major provider of investment solutions.”


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FSCS chief Loretta Minghella awarded OBE

The outgoing chief executive of the Financial Services Compensation Scheme Loretta Minghella has been awarded the Order of the British Empire in the Queen’s New Year’s honours list.

A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery


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