View more on these topics

Perpetual rethink as Amvescap talks end

Perpetual has drafted inMerrill Lynch and Cazenoveto help review its

optionsafter takeover talks with Amvescap fell through.

The UK-owned fund manager says it has received a number of approaches from

potential buyers and is considering the best plan of action.

Talks with Amvescap are thought to have broken down after it was unwilling

to meet Perpetual&#39s asking price of £45 per share but neither company was

willing to comment.

Amvescap has decided to concentrate on promoting its retail and

institutional investment arm Invesco.

Perpetual is one of the few remaining UK-owned investment houses. Possible

takeover contenders include Old Mutual and CGU.

Bates Investment senior analyst James Dalby says: “Old Mutual have made it

clear they are looking to become a top 10 player in the next few years, so

I am sure they must be one of the companies which has approached Perpetual.

“CGU would also be a good match. Perpetual&#39s monthly income fund would fit

well with CGU&#39s equivalent and, after bidding for Gartmore, they have made

it clear they are looking for acquisitions. Despite Perpetual&#39s troubled

times, they are still a strong player.”


Open the door to equity

Despite the growth of the equity-release market, only a handful of IFAsspecialise in it. The entry of Northern Rock, NPI, GE Life (through the acquisition of Stalwart Assurance) and Norwich Union has given substance tothis market and the customer base is developing fast.These major names have raised the profile of the market and have dispelledthe […]

Independent View

A graph of the FTSE Techmark Index certainly shows the ups and downs ofinvestment. Just like the Grand Old Duke of York, tech stocks marched backdown again.What we have seen is a first-class example of why investors should takeindependent financial advice.The role of the IFA has always been a handholding one. Do not kid yourselfthat […]

Review of FSAVCs may see advisers facing flood of claims

The FSA&#39s review of FSAVCs could open the floodgates for claims againstindependent advisers.The fears come after the review, announced this week, emphasised it wouldhave to review all cases that investors request in addition to those insome specified categories.Firms will also have to review sales made between April 29, 1988 andAugust 15, 1999. The FSA says […]

IFAs want specialist LTC exam

IFA Care is lobbying for the introduction of a dedicated long-term careexamination.The specialist IFA has approached Sofa and the Chartered InsuranceInstitute to establish a new qualification. The sector is currently dealtwith as part of a wider protection paper but IFA Care believes the industryneeds a dedicated qualification.The move follows Sofa&#39s decision to set up a […]


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