Ratings agency Standard & Poors is to conduct its own investigation of endowment misselling claiming it could significantly impact on life office solvency. It says the recent regulatory and political mood has changed and further action could put pressure on life companies's ratings.
Insight Investment has bought Rothschild Asset Management for £61m in a deal which the HBOS subsidiary says elevates it into the upper tier of UK fund management groups.The deal, which prices the business at just 0.55 per cent of its assets under management, includes RAM's multi-manager operation as well as its range of retail and […]
AMP has appointed Peter Willcox as its new chairman. He will occupy the post of deputy chairman until outoing chairman Stan Wallis leaves in July next year.AMP has recently also seen the departure of its chief executive and chief finance officer, as well as its UK managing director Tom Fraser.
The Investment Manage-ment Association is warning the FSA not to allow a wide range of hedge funds to be authorised for sale to retail investors.In its response to the regulator's discussion paper Hedge Funds and the FSA, the IMA says the balance of view among fund managers is that it would be premature for a […]
Singapore-based fund manager APS Asset Management is entering into the UK retail market in the first quarter of next year with the launch of an Asian equities growth fund.The APS growth fund, which is currently domiciled in Dublin with two sub-funds, the Far East growth fund and the Japan growth fund, will be rolled out […]
According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.
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The High Court has ruled four people who ran a series of scam pension schemes must pay back £13.7m they took from victims. David Austin, Susan Dalton, Alan Barratt and Julian Hanson tricked hundreds of people over a two-year period to part with their savings and then squandered the money. The Pensions Regulator asked the […]
Money Marketing’s diary page brings you an account of all the curious goings-on in the world of financial services this week
Retirement Advantage has said it remains committed to the annuities market after being acquired by Canada Life last year. Retirement Advantage offers both a standalone annuity and an annuity within a drawdown wrapper. Canada Life also offers standalone annuities, so Retirement Advantage has decided to withdraw its own standalone product. This had led to confusion […]