Norwich Union is the latest fund manager to move into the European commercial prop-erty fund sector.
The Luxemburg-domic- iled fund is expected to be launched this quarter, subject to regulatory approval. Although a lead manager for the fund has not yet been named, it is understood that the portfolio will be run along similar lines to the group’s UK property fund, which is managed by Geraldine Davies. NU is the latest fund firm to look at overseas property retail launches. Last month, M&G revealed that it is launching a European commercial prop-erty fund through its sister firm Prudential Property Investment Managers. A spokesman for NU says: “We are in the final stages of developing the fund and have gained approval from the Luxemburg regulator. We are waiting for approval from the FSA.” Chelsea Financial Services managing director Darius McDermott says: “The fund would be a logical extension for a group like NU. “My only concern would be that there are a large number of property funds being launched at present.”View more on these topicsNews
Final nail in the coffin
The headline, 3bn review for contracting out (Money Marketing last week), must have caught the attention, if not caused clinical depression, for many in our profession. In the same week, I have celebrated with my stepson claiming 880 windfall shares in Standard Life (worth currently some 2300) awarded as a result of setting up a […]
File checks offered online
Bankhall has introduced a compliance service that all- ows members to conduct file checks online. The service, launched at its Berlin conference, has three formats – a full review, suitability review or pre-sale review. Costs range from 30 for a pre-sale or suitability review on non-investment products to 75 for an investment, pension or mortgage […]
Rowanmoor launches family pensions trust
Rowanmoor Pensions has launched the Rowanmoor Pensions Family Pension Trust.
This week in Pensions
At a recent Money Marketing round table, panelists marvelled at the rapid growth in Sipp business over the last year to become the £9bn a year phenomenon it is today.
Artemis Global Select Fund: Five years of profitable themes and stocks …
Simon Edelsten, manager of the Artemis Global Select Fund, examines the long-term trends that they have exploited since the fund’s launch five years ago. Looking ahead, he explains the stock-specific opportunities the team are finding. Click here for full article
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FCA confirms PI policies cannot exclude FSCS
Advisers’ professional indemnity policies will no longer exclude Financial Services Compensation Scheme claims, the FCA has confirmed today. Some current PI insurance policies have excluded the FSCS as a claimant, or exclude claims where the firm provider or fund has become insolvent. Following feedback from a July consultation paper however, the regulator confirms changes to its handbook […]
L&G: Poor choice of pension product can lead to depression
Poor choice of pension products can make older Brits dissatisfied and depressed in retirement, research by Legal & General and Demos found. Analysis of the English Longitudinal Study of Ageing has found evidence of a link between health and well-being and the choices people make about how they use their pension savings. The research found […]
Average house price falls by £5,222 in November: Rightmove
The average UK house price fell by £5,222 or 1.7 per cent in November, according to Rightmove. The property website tracks asking prices of properties coming on to the market and says prices are falling fastest in Britain’s wealthiest towns as Brexit uncertainty grips the property market. Rightmove reports that the biggest falls are in […]
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