View more on these topics

NU setting up a fund supermart exclusively for IFAs

Norwich Union is planning to launch a new fund supermarket exclusively for

IFAs early next year which is poised to rival Fidelity, Cofunds and Legal &


The supermarket is still in the early development stages but Norwich Union

hopes to launch the venture in the first quarter of 2002 following the

launch of its online wealth management service in May this year.

The direct fund supermarket, which will offer 60 funds from 15 different

managers, is due to go live before the end of the year.

NU has now pledged its intentions to make a separate fund supermarket

available purely for the IFA distribution channel. It does 75 per cent of

its overall business through the IFA route.

Details of what funds might be offered to IFAs are yet to be finalised but

it is likely that the supermarket will come under the NU brand.

The move follows Legal & General&#39s recent announcement in May that it is

planning to develop an IFA and direct fund supermarket offering a “best of

breed” selection of funds.

NU spokesman James Evans says: “We believe a fund supermarket is a

valuable extra service IFAs can offer. It is an addition to their armoury.

“The IFA market is of huge importance to us and we are investing a lot of

time and effort in supporting that market.”


Skipton ropes in FTSE

Skipton Building Society has introduced a five-year guaranteed growth bond that is linked to the FTSE 100 index.The bond guarantees that investors will get their original capital back at the end of the term plus a return of at least 26 per cent, regardless of how the index performs. The maximum growth potential is 50 […]

NU and L&G incentives to draw IFAs to net

Life offices are competing for IFAs&#39 online business as Norwich Union andLegal & General offer incentives to encourage IFAs to use the internet. IFAs must now transact all NU term insurance business online as thecompany no longer offers quotes in branches or by phone. NU is offering increased allocation rates of 0.25 per cent on […]

Conference considers effects of consolidation

Data marketing and planning outfit CACI is holding its annual financialservices conference in Leeds in September. The conference will look attoday&#39s rapidly changing environment, where network reorganisations,mergers and new channel developments are changing the shape of theindustry. Speakers will consider which channels consumers will want to useand which parts of the market will become superfluous. […]

Industrial focus for iShares

iShares has introduced the iBloomberg European industrials fund.Created as an exchange-traded fund, it is aimed at experienced investors. The aim of the fund is to provide long-term growth by tracking the recently created Bloomberg European investible industrials index. The fund will be managed by Barclays Global Investors.The Bloomberg European investible industrials index includes companies that […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm