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PIA expels London firm

The PIA has expelled London-based firm JD Ward (Financial Services) on the ground it is no longer fit and proper to conduct investment business.

This is due to it no longer meeting the regulator’s financial resources requirements after the firm was placed into liquidation in September 1999.

The firm was fined £15,000 and ordered to pay PIA’s costs of £4,500.


Govett Investments – Corporate Monthly Income Fund

Tuesday, 28th November 2000.Type: Ucits.Aim: Income by investing in predominantly investment grade corporate bonds.Minimum investment: Lump sum £1,000, monthly £25.Place of registration: Dublin.Investment split: Investment grade bonds 80 per cent, non-investment grade bonds 20 per cent.Yield: 7.75 per cent gross a year.Isa link: Yes.Charges: Initial 3.5 per cent, annual 1.25 per cent.Commission: Initial 3 per […]

Leggmason Investors – Leggmason Investors Protected Income Fund

Monday, 27th November 2000.Type: Stocks and shares maxi Isa.Aim: Income or growth linked to FTSE 100, Euro Stoxx 50, Nikkei 225 and Nasdaq 100.Minimum investment: Lump sum £5,000.Maximum investment: £7,000.Catmarked: No.Investment choice: 100 per cent in FTSE 100, Euro Stoxx 50, Nikkei 225 and Nasdaq 100.Yield: Income 7.5 per cent per annum, growth 23 per […]

UK pension funds down again

The value ofUK pension funds has fallen for the third consecutive quarter of 2000, according to Edinburgh based performance measurements consultants The WM Company. Overall returns were down 0.4 per cent compared with 0.6 per cent for the first two quarters. The WM Company executive director Peter Warrington says “Returns overall have been disappointing for […]

Trade association won&#39t charge broker fees after Treasury decision

The Insurance Brokers Registration Council has decided that fees will not be collected from individual insurance brokers for the period 1 January to 30 April 2001 in light of the Treasury&#39s decision to repeal the Insurance Brokers (Registration) Act 1977 from 30 April. Practising insurance brokers will be exempt from fees, but not brokers that […]


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