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New ideas for Skandia and Bailey

T Bailey is to launch a UK best ideas portfolio on October 1, meshing fund of funds and conviction investing. It will be made up of 10 UK equity funds, each with a weighting of 10 per cent. It will be managed by Richard Martin and Jason Britton. Skandia Investment Management is to launch its new UK strategic best ideas fund on September 19. The portfolio will allow each manager the flexibility to profit from rising shares (longs) and falling shares (shorts).

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Do you think it is acceptable for fund managers to charge a premium for consistently outperforming funds?Yes 38%No 62%No “Charging a premium is usually a one-way street, in that if a fund performs, they raise the fee but if it fails over a period – as most inevitably do – the lower charge will not […]

£10,500 Fine for homeloan firm

The FSA has fined Select Mortgage Services £10,500 for poor financial promotions, inadequate sales processes and inappropriate systems and controls to manage its business.

Profits leap by 67% for Hargreaves Lansdown

Hargreaves Lansdown’s first annual results as a listed company show a 67 per cent increase in operating profits to £40.7m from £24.3m.Assets under administration also rose by 67 per cent from £6.1bn to £10.2bn. Group revenue was £98.8m in the year to June 30 compared with £73.5m the previous year. The proportion of recurring revenue […]

Pension deficits improve despite market falls

Pension scheme deficits have improved during August despite the market volatility over recent weeks according to Aon Consulting.Rising bond yields and favourable investment returns have ensured that pension schemes are still better off over the course of the month according to Aon. Over the month of August 2007, the largest 200 UK pension funds’ aggregate deficit […]

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