The M&G managed income unit trust has lost its Standard & Poor's fund research rating because of poor performance. The £1.2bn fund managed by Richard Pluchett did have a single A rating but is now unrated because S&P said the trust “did not pass our quantitative screening process” in its most recent survey of managed funds. Two other funds suffered the same fate, with the £22m Framlington managed distribution and £20m Stewart Ivory managed equity portfolios both losing their ratings. S&P's review is based on performance data up to 1 September 2000.
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Aberdeen sites for each of its investment trusts
Aberdeen Asset Managers has created a series of websites covering each of its investment trust companies.The 23 new sites can be accessed from www. invtrusts.co.uk. They will each list specific information about one of its trusts, including twice-yearly results, manager details, capital structures, daily price updates, regulatory news and monthly updates.The sites will include a […]
N&P slash fixed mortgage rates
Norwich & Peterborough is cutting the rates on its fixed rate mortgages from this week. For two year fixed rate mortgage schemes there is a new rate of 4.19 per cent, previously 4.64 per cent, at 90 per cent LTV, and a 4.34 per cent mortgage, previously 4.79 per cent at 95 per cent LTV. […]
Moneyextra to be sold for £26m
Moneyextra plc is announcing the proposed sale of its consumer web portal moneyextra.com to Great Western Financial Services for £26m. Moneyextra says the move comes because additional investment would be needed to compete with competition from the well-branded institutional players in the market. The group will focus on its strategy of becoming an e-commerce and […]
Schroder – European Dynamic Growth Fund
Friday, 10th November 2000.Type: Unit trust.Aim: Growth by investing in a portfolio of European companies with good growth potential.Minimum investment: £1,000.Investment split: 100 per cent European equities.Isa link: Yes.Pep transfers: Yes.Charges: Initial 5.25 per cent, annual 1.5 per cent.Special offer: Initial charge reduced from 5.25 per cent to 3.25 per cent.Offer period: Until January 31, […]
Pensions Dashboards around the World
Steve Webb’s latest policy paper British savers risk being left in the ‘slow lane’ unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard. The report, ‘Pensions Dashboards around the World’, coincided with a major conference that was held on Monday 16 May and brought together experts […]
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Are DFMs interpreting risk ratings correctly?
Money Marketing takes a look at the role advisers should play to help DFMs build suitable discretionary portfolios With an ever-greater regulatory focus on taking the right risk for the right client, eyes are turning to how discretionary fund managers actually turn an adviser’s fact-find into an investment portfolio. Last year, the FCA looked at […]
Pension credit changes ‘a disgrace’ says MP
An MP has called the government’s plans to change the pension credit system a “backward step” and a “disgrace”. In January the government announced it will limit access to pension credits for couples from May this year. It has decided that pension credits will, from now on, only be available to couples where both partners have […]
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Mike Bell: There is an alternative to equities
Cutting back on costs can lead to a challenging environment for risk assets TINA, meaning “there is no alternative” to owning risk assets like credit and equities, has defined much of the current bull market. TINA wasn’t an accident, central banks purposefully sought to reduce the return available on safe assets to force investors into […]