New Star has passed the 7bn mark for retail funds under management. The firm has grown both organically and through the acquisition of the rights to mange funds from Aberdeen, Exeter and Edinburgh fund managers since its foundation in 2001.
Citadel income protection new applicants have grown 42 per cent in 2005, according to Birmingham-based friendly society Dentists & General.The D&G specialises in protecting peoples incomes against illness and injury up to the age of 60, particularly those self-employed in low-risk jobs.Despite national declining figures for IP applications – a 25 per cent decline according […]
The Department for Work & Pensions has declared that Sipps are mainstream schemes and can hold protected rights. But deespite lengthy lobbying for the change, the industry has criticised the DWP for failing to provide clarity on how this will work in practice. There is confusion surrounding whether protected rights pots can be held within […]
By Jamie Clark, Business Development Manager The pensions revolution is almost upon us. As with any revolution, there will be winners and losers. The winners in this case could presumably be the politicians that orchestrated pensions freedom and choice just before the general election. As for the losers, there may be many thousands of people […]
Some investors holding money with Blackmore Bonds are yet to receive July interest payments, despite the firm’s insistence all funds have been transferred and cleared. One such investor has told Money Marketing they have been “ignored” by Blackmore. Chief executive of the mini-bond provider Patrick McCreesh told Money Marketing this week that some investors holding Isas […]
Rebates have been confirmed as taxable this month, in the long-running clash between Hargreaves Lansdown and HMRC. This effectively confirms “superclean” share classes are the most tax-efficient mechanism for delivering preferential rates on funds, rather than the oxymoronic “clean with rebates”. Asset managers will be very reluctant to implement multiple share classes at varying prices […]
Collapsed Sipp administrator GPC Sipp has nearly £1m in debts owed to creditors according to a statement of affairs document published on Companies House. It shows there is a shortfall of £964,832.00 owed to creditors and most of the Sipp shares are owned by managing director Kathryn Taylor who holds 73 shares. The others are […]