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MLIM fund breaks £1bn barrier

The Merrill Lynch Investment Managers&#39 property fund topped the £1bn mark.

The Jersey unclassified open-ended unit trust invests in a mix of UK commercial property.

In the ast year, to 30 June 2004, it returned 16.9 per cent with key investments in Riverside Retail Park in Nottingham and Tower 42 in London.

The fund focuses on high quality properties, principally multi-let assets, which are managed to meet the occupiers needs whilst seeking to enhance returns.


AMI expert panel will help watchdog on mortgage cases

The Association of Mortgage Intermediaries is setting up an expert panel at the Financial Ombudsman Service to help it with decisions that will have wider implications. Speaking at Money Marketing Live at G-Mex in Manchester on Tuesday this week, AMI director Chris Cummings said the panel will enable the FOS to consult experts as part […]

Wesleyan widens business to IFAs

Wesleyan Assurance is entering the broader IFA market offering its with-profits and unit-linked investment products to a select group of IFAs. The move will see the life office, which has traditionally distributed its products direct or through its own medical specialist IFA business, sell its funds through up to 10 national IFAs. The accounts will […]

&#39The Pensions Bill has become a dreadful piece of legislation&#39

Author of the pension simplification report Alan Pickering has launched a scathing attack on the Inland Revenue and the Pensions Bill. Watson Wyatt partner Pickering says the Revenue&#39s efforts on the bill only merit two out of 10. He also thinks that the bill fails to promote saving for pensions and would add to red […]

Ship creates home-reversion code and consumer complaints board

Safe Home Income Plans is creating a home-reversion code and a complaints board. Money Marketing rev-ealed in June that Ship was looking at a code because rev-ersion customers will not be protected by the impending mortgage regulation. Ship is setting up an independent body – the reversion complaints board – which will handle home-reversion complaints […]

Changes to early exit pension charges

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]


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