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More trouble in the Jupiter family

Jupiter Asset Management received more bad news yesterday when one of its own funds served notice that it may fire the company.

The £250m Jupiter Split Trust, which has been run by the parent company since its creation in 1996, gave “protection notice of termination of the…contract.”

The notice sets the notice period running, which effectively reduces the compensation the fund manager could receive if they were fired.

The independent board of the Split Trust, which includes former Jupiter Asset Management chief executive John Duffield, says it wants to seek clarification over a number of areas, but has not made a decision on its future yet.

The fund is currently managed by Philip Gibbs. He says the news is “not a massive surprise” and he is eager to talk to the board.


Schroder picks duo to develop broker business

Schroder has appointed NPI head of customer value marketing StephenIngledew as head of wholesale marketing.It has also recruited Prudential national accounts manager TristanMawdsley as head of networks and national accounts.Both roles are newly created. Schroder says they show its determination tocontinue the development of its retail sales through IFAs.Ingledew, 37, will be responsible for marketing […]

Woollard faces a carpeting in House of Lords

Carpetbagger-in-chief Fred Woollard is to come under attack in the Houseof Lords during the last week of campaigning over the future of StandardLife.Labour peer Lord Faulkner of Worcester plans to raise a debate aboutmutuality in financial services.He hopes to touch upon what he sees as the benefits of mutuality forconsumers and point out the weaknesses […]

Aitchison is first IFA ever to reach entrepreneur final

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GPPs set to benefit from &#39restricted&#39 stakeholder

Scottish Equitable is pred-icting that difficulties over providingstakeholder plans could tip the balance in fav-our of group personalpens-ions for many employers from next April.The life office believes the restrictions and conditions surroundingstakeholder will lead to a very limited uptake among smaller andmedium-sized employers. It suggests many will opt to take the GPP routewhen planning pension […]

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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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