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Private equity firm buys Network Data

The Phoenix Group has bought the remaining assets of Network Data. Phoenix, a private equity group that owns several financial services firms, has bought the IT and admin systems as well as client bank of the defunct mortgage network.

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Lehman loss looms for L&G clients

Around 1,300 investors in a Legal & General structured product backed by Lehman Brothers may not recover the 20 per cent of their investment lost when the bank collapsed.

Cicero Lib Dem blog: Property tax breaks up the party

What’s all this? There was a touch of excitement in Bournemouth on Tuesday. The day started with an unintentionally hilarious Today Programme head-to-head between Tory Chairman Eric Pickles and the Lib Dems’ Chris Huhne. Mr Huhne did his best attack dog impression – criticising the Conservatives for cosying up to climate change deniers, homophobes and racists in the European Parliament. I’ll say that again. Climate change deniers! Pickles accused Huhne of playing hard to get. As I said, hilarious. But pretty unedifying.

Adviser Fund Index

On September 9, the FTSE 100 hit 5,000 for the first time in 11 months, buoyed by a combination of positive figures on UK exports and manufacturing and investment banks welcoming ‘the return of the deal’ as Kraft bid £10bn for Cadbury. But is this the beginnings of a recovery or merely a market rally? Adviser fund index panellists are sceptical.

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Follow the trail…

Earlier this month a number of life offices revealed they are looking at menu-based protection products.

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