The FSA reinforced its message at the IFP conference in Manchester last week that the proposals in the retail distribution review are industryled initiatives.Retail intermediaries sector manager Sharon Campbell repeated the FSA’s mantra that it was members of the industry not the FSA who had constructed the paper. She said: “There is no point in […]
Pension campaigner Ros Altmann believes compensation for the victims of collapsed schemes could have moved a step closer after she met with Department for Work and Pensions Secretary Peter Hain.Altmann says in a private meeting with several members of her Pensions Action Group on October 3, Hain and pensions minister Mike O’Brien agreed that the […]
Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.
At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.
A hard Brexit scenario could see a £219bn increase in aggregate buy-out deficit of UK pension funds, fiduciary and risk management firm Cardano says. In the event of a no-deal Brexit, including the extent of any transitional arrangements, UK pension trustees and corporate scheme sponsors must be ready to “react to the consequences” they could […]
2018 saw mixed fortunes for the platform space, with a number of advised offerings launching successful IPOs, while others feeling the heat went through mergers or tough technology reboots. Here’s what the experts made of it all. Upgrade pain…again Platforms’ dilemma is whether to stick with the old tech and fall behind with the whizzy […]
Royal London chief executive Phil Loney is stepping down at the end of 2019 and the new chairman, Kevin Parry, will lead the search for his successor. Parry’s appointment and Loney’s departure were both announced this morning. Parry, will leave his current non-executive director position at Standard Life Aberdeen at the end of December and […]