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Old Mutual profits jump 61 per cent

Fund manager Old Mutual has seen its operating profits jump 61 per cent to £457m from £284m in the six months ending June 30.

Its funds under management have increased 23 per cent to £55.1bn from £44.9bn over the same period.

The increase exceeded analysts&#39 expectations. The growth has followed rapidly from the South African owned fund manager&#39s floating in London last July.

Old Mutual chairman and chief executive Mike Levett says: “The past six months have seen Old Mutual make considerable progress in the development of its core businesses.”


FSA waters down &#39alphabet soup&#39

The FSA is set to slash the “alphabet soup” of qualifications IFAs can use after their name following an investigation into industry exams.Speaking at a conference last week, FSA chairman Sir Howard Davies said the regulator is investigating industry exams to cut back the number of letters after advisers&#39 names.Davies said the current system is […]

PMI probes stakeholder at conference

The Pensions Management Institute has unveiled the programme for its autumn conference at the Royal Lancaster Hotel. The event, on October 11, will feature a presentation by Schroder and the Post Office entitled, Stakeholder: is your strategy in place? as well as a presentation addressing The annuity problem, plus updates from Opra and Eversheds.

Surviving Stakeholder

You will meet a handsome stranger – IFA clients are predicted to have an exciting future ahead of them as the IPA adds a sexy new element to their pension planning.For many IFAs, giving good advice about long-term savings and investments has meant striking a balance between security in old age and liquidity of savings […]

Skipton brings in semi-flexible mortgage

Skipton Building Society has brought in the flexible two-year fixed rate mortgage.Although the mortgage has interest calculated daily and gives the ability to overpay and take payment holidays, it does not include underpayments and lump sum withdrawals, unlike other flexible mortgages.The mortgage offers a number of different fixed interest rates, depending on which option the […]


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