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Overseas funds are boosted to £18bn

Offshore funds under management have increased by 11 per cent in July compared with the previous month, according to Investment Management Association figures.

Overseas domiciled funds under management grew to £18.2bn from £16.4bn and up from £16.6bn for the same per-iod in 2007. Overseas Isa assets fell by £1m to £303m and are down from £332m in July 2007. Net retail sales of overseas domiciled funds saw outflows of £91.3 m compared with £183.2m. Net retail sales of overseas domiciled investment fund Isas saw outflows of £2.3m compared with £1.9m.

IFA Premier Wealth Management managing director Adrian Shandley says: “With offshore funds, it is a lot easier to invest in dollar-denominated funds. There has been a bit of a gain on the dollar so they would be the last ones to be sold and there is an attraction to retain offshore funds.

“Changes in capital gains tax also mean that offshore funds are also becoming more attractive. The drop in overseas Isas is due to the fact that they are generally exposed to very small emotionally led investors who tend to panic a lot quicker than institutions when times are hard. Some of the middle-ground investors will be advised to avoid Isas unless they are spec- ifically seeking income from corporate bonds.”


Treating firms fairly?

The FSA’s treating customers fairly initiative is considered an impossibly subjective beast by many advisers and to date our principles-based regulator has refused to set down explicit rules.

Banks face raising new round of capital

Alliance Trust is warning that the outlook for banks remains worrying with uncertainty over the strength of balance sheets and the poss- ibility that more capital may have to be raised.

Omo? More like slow-mo

Virgin Money this week revealed delays processing pension fund transfers into annuities could eat into pensioners’ retirement income by as much as £10,000 depending on movements in annuity rates.


School fees planning

Jeremy Pearson is Technical Support Manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. Many parents value the standard of education offered by […]


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