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New version of L&G&#39s distribution fund

Legal & General is launching a unit trust version of its £1bn
distribution life fund this week, offering 5 per cent initial commission
but no trail. The fund, to be managed by David North, will be invested
at least 60 per cent in bonds, enabling it to retain the tax credit within
an Isa. The 5 per cent initial charge will be discounted to 4 per cent
until April 6 while the annual charge will be 1.5 per cent.

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Multiple pile-up

Recent media claims that borrowers are being encouraged to inflate their salaries to qualify for mortgages they can ill afford have further damaged public perception of financial advisers. But assertions that fraudulent self-certification mortgages are to blame for the property boom do not hold much sway with IFAs. An undercover investigation by BBC&#39s The Money […]

Queen announces bill for CTFs

A bill will be introduced to provide all children born from September 2002 with a child trust fund with an initial endowment from the Government and more for poorer children. The fund will be accessible when the child reaches 18.

Talkback

“No. The literature is adequate and IFAs know how to use it.”Vaughan Hart, Vaughan Hart Personal Financial “To an extent. But at the end of the day, provider literature should be compliant and reliable.”John O&#39Hare, Cameron Chase “No. All the information is there to be used and it is reliable for advice.”Paul Green, ACP Independent […]

&#39State pension falling behind rest of world&#39

The UK state pension system is one of the least generous in the developed world, says pension tsar Adair Turner. The head of the Pension Commission told last week&#39s National Association of Pensions Funds autumn conference that while this was not a problem five years ago because of the UK&#39s strong occupational pension coverage, over […]

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