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OFT revokes broker credit licence

A Sidcup mortgage broker has lost his appeal against a decision by the Office for Fair Trading to revoke his consumer credit licence. Stewart Williams, trading as S&J Consultants, was convicted in July 2000 on several offences, including dishonesty and obtaining business money transfers by deception.

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Equity-release boom poses sale problems

Equity release could become the next big misselling scandal if IFAs do not take due care, warns GE Life. The firm predicts that the equity-release market could triple over the next five years following demand driven by demographics, client needs and the savings gap – which could reach 125bn by 2009 according to the Turner […]

The price is right

Despite two years of strong UK equity market growth, unfashionable value stocks will continue to outperform, says Invesco Perpetual UK aggressive manager Ed Burke. The fund, launched in July 2001, has risen by 74 per cent against a Lipper sector average of 7.2 per cent. Burke runs the fund on the basis of seeking out […]

MPC leaves rates on hold

The Bank of England’s monetary policy committee decides to leave rates on hold for this month.The Derbyshire head of intermediary support and development Tony Capon says: “Minutes from the 3-4 August meeting showed the bank’s nine-member MPC voted 5-4 in favour of the quarter-percentage-point cut. “Todays decision clearly shows a less certain approach to further […]

City fund manager joins Morrisons board

Former Deutsche Asset Managment European chief executive Paul Manduca is to join the board of supermaket chain Wm Morrison as a non-executive director. Manduca, who ran Rothschild Asset Management and built up Threadneede, is viewed as a potential succesor to the supermarket’s chairman Ken Morrison.

US equity income: the standout market

By James Hackman, head of US Equities at Neptune With a growing dividend market, very low payout ratios and high dividend cover, the US is one of the standout equity income markets globally. It is also one of the most unloved. James Hackman, manager of the top-performing Neptune US Income Fund, highlights six key facts […]

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