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Norwich Union moves into Isa Fofs

Norwich Union is set to open its fund of fund range to Isa and Pep investors next month, marking the firm’s first step into the Isa Fof sector.

NU’s three Fof portfolios, which are run by IMS, are currently only available through its portfolio life bond and pension wrappers but will be added to its retail investment range from October 17.

The NU mixed fund of funds, cautious fund of funds and growth fund of funds will be positioned alongside its manager of manager range, run by Aon Asset Management, which is already available as part of NU’s life and pension and retail investment ranges.

NU head of investments Neil Davies says few providers offer both Fof and Mom ranges in the retail market and, as awareness of multi-manager builds, many advisers are developing a preference for one strategy over the other.

He does not believe that introducing the fund of funds range into its retail investment suite will cannibalise the firm’s Mom business. Davies says: “The goal is not to substitute sales but to drive our retail presence. There are definitely two developing segments in the multi-manager space, one favouring fund of funds and the other manager of managers.”

Plan Invest adviser Michael Owen says: “Multi-manager is a bit of a bandwagon. IMS is well regarded but you need to do your research and look at the whites of the fund manager’s eyes to separate the wheat from the chaff.”


L&G adds products to its online protection suite

Legal & General is adding several new protection and general insurance products to its web-based quote and apply system Online Protection . The suite will now include family and personal income plan, a family protection product with a monthly benefit, MPPI cover, unemployment cover as an option on the L&G general mortgage payment insurance product. […]

Whittaker becomes joint CIO at New Star

New Star Asset Manage- ment has promoted UK growth fund manager Stephen Whittaker to the role of joint chief investment officer, serving alongside Alan Miller. Whittaker will continue to manage the UK growth fund, which he took over from Miller in July 2002.

LivVic in 26m deal with data company

Liverpool Victoria has selected Electronic Data Systems to enhance its online application capabilities and provide a tele-underwriting service for its life protection busi- ness in a contract exten- sion worth 26m.

What can drive the India story forward?

By Kunal Desai, head of Indian equities, Neptune Since the election of Narendra Modi as prime minister in May 2014, Indian equities have gone on to outperform both developed and emerging markets. A busy period of governmental and economic reforms, a lower oil price and falling political risk have been the primary drivers over this […]


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