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.”
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 […]
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 Pensions has launched the Rowanmoor Pensions Family Pension Trust.
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.
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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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
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