Norwich Union has responded to Nationwide's prediction that equity release will be the next misselling scandal, saying the comments are alarmist and do not paint a fair picture of a growing market.
Personal finance director Mark Kelly says: “Equity release plans do have their place but, like any other financial product, will not be suited to everyone. It is dangerous and harmful to assert that because equity release plans are sold to the over 55s, that they are being missold.”
You may groan at the thought of another New Star fund and wonder how this one can differentiate itself from some of the other funds in the stable. Well, for a start, its UK special situations offering is a tiny fund at only £2.5m and it is not being run by a fund manager you […]
The TUC is launching a campaign to urge job seekers to look at the detail of an employer's pension offer when deciding whether to accept a job. The TUC says that too many job seekers, particularly young people, fail to understand how much a good pension scheme contributes to the pay and conditions of a […]
Axa has announced the appointment of Dave Whitaker as its marketing director. Whitaker joins having spent 20 years at Clerical Medical where he was a director responsible for retail marketing. At Axa he will be take control of design and development as well as promotion of Axa's life, pensions and investment products and manage a […]
The Government has sensibly conceded regulation of home-reversion loans. The move had been resisted by the Treasury which argued there was little evidence of consumer detriment. But there was a clear moral hazard in regulating equity release but not home-reversion plans. But there is still likely to be a regulatory gap because regulating home reversion […]
Cormac Weldon reviews the first year of Artemis’ initial three US funds, and where he sees things going from here. Click here to read full article
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Sign up Expectations for a UK interest rate rise in August hardened after the services sector reported its fastest growth since last October on Wednesday, and were further buoyed by comments made by Bank of England governor Mark Carney in a speech given to the Northern Powerhouse Summit in early July. The IHS Markit CIPS Services Purchasing Managers Index, […]
Despite growing concern about the economic outlook for China, investors need not worry
BlackRock and Schroders are frontrunners to manage £109bn for Lloyds Banking Group’s Scottish Widows Investment Partnership funds, Bloomberg reports. The London-based bank is set to make its decision in the third quarter of this year, after it invited bids for its contract at the start of this year after ending the agreement it had with […]
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