View more on these topics

Old Mutual and Gerrard join up to create top 20 fund firm

Old Mutual is to merge Gerrard Investment Funds with Old Mutual Asset Managers in a move which will propel Omam into the top 20 biggest UK fund firms.

The merged firm will run under the Omam brand, with the Gerrard name being pha-sed out for all but the portfolio management division.

Omam chief executive John Ainsworth will head the mer-ged operation, with fund mergers and rebranding expected to be his first tasks in the new year.

With more than £1bn under management, Gerrard has a comprehensive fund range, offering unit trusts across most Autif sectors.

However, with the exception of its hallmark growth portfolio, which has a Standard & Poor&#39s AAA rating, the Gerrard fund range has unremarkable performance figures and has never become a strong brand in the mainstream IFA arena.

Gerrard was formed from the merger of Capel Cure Sharp and Greig Middleton in February.

Omam was also not well known in the IFA market until last year when the best of Hill Samuel&#39s talent, including Ainsworth, joined to revamp the business.

Since the January launch of the UK select smaller companies fund, run by star manager Ashton Bradbury, Omam has become one of the fastest-growing retail investment houses.

Old Mutual Financial Services chief executive Edmond Warner says: “This is an important step, bringing a co-ordinated approach to our UK business and establishing Old Mutual Asset Managers as the group&#39s UK retail and institutional asset management platform.

“Gerrard&#39s aim is to be the UK&#39s premier portfolio asset management business foc-used on private clients, charities and smaller pensions.”


Scottish Legal Life offers IFA discount on investment bond

Scottish Legal Life is offering IFAs an extra 1 per cent allocation on its guaranteed investment bond for applications received between October 29 and December 7.The guaranteed investment bond is a single-premium, unit-linked bond, returning all money invested on the fifth anniversary of the bond, with 70 per cent of the unlimited potential growth of […]

FSA is swinging towards single pricing for funds

The FSA is considering an overhaul of unit trust and Oeic regulations to bring single pricing and greater transparency to fund dealing.In a discussion paper this week, the FSA says research reveals investors are confused by dual pricing structures.Single pricing is the standard for Oeics but most unit trusts operate dual pricing. The FSA is […]

FSA will regulate LTC and advice is poised to follow

The Treasury has confirmed that sales and marketing of long-term care insurance will become fully regulated by the FSA, with providers predicting advice will also fall under the regulator&#39s remit.The Treasury appears to have ruled out Catmarking of LTC, with providers claiming the failure to mention it in the announcement this week indicates the plans […]

Whitechurch sets up pension service

IFA Whitechurch Securities is setting up a pension advisory service to complement its inv-estment advice business.The service aims to encourage the firm&#39s existing clients to treat retirement planning as part of their fund portfolios.Whitechurch&#39s service will be available to clients for a minimum fee of £350, for which five advisers will offer face-to-face advice backed […]

The Day of (B)reckoning

A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article


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