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Paragon closes £900m securitisation

Paragon has completed its largest securitisation to date, a financing totalling £900 million backed by prime buy-to-let mortgages. This is the first time Paragon has included loans originated by Mortgage Trust in a securitisation.

Finance director Nick Keen says: “This transaction continues the development of the Group&#39s securitisation programme, bringing the Paragon name again to investors in the US, as well as to investors in Europe and the UK. Investor interest was highly positive and resulted in the upsizing of the deal.”


Standard drops s32 contract from range

Standard Life is dropping its s32 contract from its product range next month, saying it is not economical to keep writing the business. But the firm, which is currently reviewing its mutuality, denies the move is to cut exposure to its with-profits fund from guaranteed minimum pension obligations. Standard says it is dropping its s32 […]

Gareth Marr

In three years time, there will be only four or five advisory and distribution companies in the UK. This is the bold prediction of Gareth Marr, chief executive of newly launched IFA Origen. Marr says there will undoubtedly be more consolidation, citing the usual industry bugbears such as PI, poor public perception and a heritage […]

OMAM appoints new quant team members

Old Mutual Asset Managers has appointed four fund managers to its quantitative strategies team.Dr Gavin Brown and Anna Perriam are joining from Northern Trust Global Investments&#39 European quant team, where both were senior portfolio managers.Dr Ian Heslop, a global equity manager, and Tracey Lander, an asset allocation specialist, are joining internally, having worked in other […]

Kafka quits Fidelity for Stock Exchange

Fidelity&#39s executive director Paul Kafka is joining the London Stock Exchange as director of corporate communications and public policy in August. He is being replaced by Joerg Moberg, who joined Fidelity in 1999 as director of corporate communications in Frankfurt before becoming director of IFA sales in Germany in 2001.

Oil industry: only the fittest will survive

The actions of OPEC have forced the oil supply to fall and producers to cut costs and rationalise, says Richard Hulf In an interview with journalist Alexis Xydias, Richard Hulf, manager of the Artemis Global Energy Fund, explains the impact of the fall in the oil price on energy companies. Alexis also quizzes Richard on […]


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