The Office of Fair Trading has taken action against misleading 'money-making' mailshots which were advertising a 'get-rich-quick' scheme. Devon-based couple Pauline and Robert Chambers were told they would have to refrain from publishing advertisements that were part of a promotion for a scheme called Your Private Gold-Mine. The scheme was designed to use direct mail to invite people to join the Private Gold-Mine Organisation. The Chambers claimed they represented one of the “world's most rewarding financial associations” and that they were making people millionaires every day. The couple also provided testimonials from individuals who claimed to have profited from the scheme.
Type: Oeic Minimum investment: Lump sum £1,000, monthly £30 Investment split: Up to 85% investment-grade bonds, up to 15% high-yield bonds Isa link: Yes Pep transfers: Yes Charges: Initial 3%, annual 0.95% Commission: Initial 2%, renewal 0.25% Tel: 0800 305306
When the Independent Financial Anxiety report was published by Durlacher, I marvelled at some of the price/earnings ratio figures which applied to the new rapid-growth IFA practices. For those of you not given the chance to read what gave me more laughs than the Beano, the p/e ratios ranged from 40 to 400. Four hundred […]
Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £10,000-£500,000 Term: Five years Guarantee: Original capital returned in full regardless of performance in index Return: 100% growth at end of term Closing date: September 23, 2003 Commission: None Tel: 0044148 1710 150
Nearly two thirds of borrowers (63 per cent) say they like the idea of long term fixed rates, according to a financial survey carried out by London & Country. Borrowers who were not keen on the idea of long term fixed rates (37 per cent) said this was down to the level of interest rate […]
Alex Ralph, manager of the Artemis High Income Fund, talks about high-yield bonds in the US and Europe – and why she favours the latter.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]