View more on these topics

National Mutual outsources all equity management

National Mutual is withdrawing from direct management of its equity funds.


From October, management of all equity funds will be outsourced to global investment banks.


Funds will offer a combination of active and passive management strategies. State Street has been awarded all passive mandates. On the active side, JP Morgan will manage for the UK and North America, Goldman Sachs for Europe and the Far East and Schroders for Japan.


National Mutual will continue to manage bonds, derivatives, and property directly and control accounting, valuation, custody and pricing.


It is also launching two new funds, managed under the new arrangements, the Balanced Managed and the Stockmarket Managed from next month.

Recommended

Lambeth offers two new fixed rates

Lambeth Building SocietyFIXED RATE MORTGAGESFixed terms: Until August 1, 2001 or December 1, 2002.Fixed rates: Loans up to 75 per cent of valuation – 5.85 per cent or 6.44 per cent respectively. Loans up to 95 per cent of valuation – 6.25 per cent or 6.64 per cent. Minimum loan: £25,001.Maximum loan: Up to 75 […]

Singer & Friedlander offer a VCT for the first time

Investment managers Singer & Friedlander is to make its first foray into the world of Venture Capital Trusts, with its AIM VCT.The VCT is designed to attract investors who are more sophisticated than the average investor, but who are not prepared to take the risk associated with a normal VCT.It will lower the risk by […]

Staffordshire strikes cashback blow for mutuals

The Staffordshire Building Society is offering a new five per cent cashback mortgage this month which it says is blow for mutuals against plcs.The cashback is available on advances of 90 per cent for both purchase and remortgage and has no application or arrangement fee.Staffordshire&#39s standard variable rate is 8.5 per cent almost half a […]

Lambeth B.S caps to January 2001

Lambeth Building SocietyCAPPED RATE MORTGAGECapped term: Until January 1, 2001. Capped rate: 7.75 per cent.Payable rate: 6.55 per cent.Minimum loan: £25,001.Maximum loan: Up to 75 per cent of valuation subject to a maximum of £350,000.Income multiples: Three times principal income plus second or 2.5 times joint. Arrangement fee: £295 or 0.3 per cent of loan […]

Pension - thumbnail

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment