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Millfield cuts loss by 4.5 per cent

National IFA Millfield Group&#39s losses have fallen 4.5 per cent to £5.6m in the six months to September 2003, from £5.9m for the same period last year. The Aim-listed firm saw turnover for the period increase 65 per cent to £23.5m for the six months to September 2003, from £14.2m for the same period in 2002.

The firm has also agreed with Norwich Union for the insurer to invest £10m in the Lifetime wrap venture. Under the deal Millfield receive £800,000 in this accounting period and a further £1.4m in the next.

Millfield chairman Richard Mansell-Jones says: “The economy and the investment markets have stabilised though there is still considerable change to occur across the financial services market.

We have built a strongly based group and I am confident that, with the quality of people we have and are attracting, we will continue to deliver our plans.”


Woolwich Plan Managers – The Premium Protected Growth Plan

Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-£500,000, £1,500 Isa/Pep transfers, £3,000-£7,000 Isa Term: Five years and six months Guarantee: Original capital returned in full at end of term regardless of movement in indices Return: Up to 100% growth in index Closing date: January 15, […]

Prudential appoints new director

Prudential UK has appointed David Tildesley, who joins from AMP as the new sales director of its business to business channel.


Do you support FSA plans to levy regulatory fees on IFAs based on turnover rather than the current system of number of RIs? “It depends on the figure, if it&#39s cheaper then I would support it.” Eric Rushton,Powsney & Co“In principle, I do support it but it depends on the structure and how it will […]

Group 300 signs GPMU deal

IFA Group 300 has completed a multi million pound deal with the ninth biggest union in the UK – the Graphical Paper and Media Union that has 200,000 members. The IFA group is in talks to provide similar advisory services to several other unions including Teacher organisations.

Artemis Monthly Distribution Fund: positioning and outlook

Managers James Foster and Jacob de Tusch-Lec outline the fund’s investment approach and discuss current investment themes and outlook for the bond and equity markets. As James and Jacob confirm, the Artemis Monthly Distribution Fund’s aim is to generate an income from both equities and bonds. They explain their investment approach in each asset class, the sectors where they are […]


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