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Pru fined £650,000 for pensions review failures

Prudential has been fined £650,000 by the PIA for failures in its pensions review procedures.

Pru was criticised for delays in paying redress to policyholders who had retired and beneficiaries of those who have died. Some policyholders were waiting more than six months for cases to be reviewed.

Its records also came under fire, with Pru in some cases unable to produce any documents.


Isis goes ahead with zero fund despite volatility

Friends Ivory & Sime&#39s retail arm Isis is pressing ahead with a new fund of zeros despite volatility in the sector.The Isis progressive growth fund, launched this week, is the fourth fund in the Isis Oeic. Managed by global equity directors Peter Hewitt and Julie Dent, it will invest in a small portfolio of 20 […]

HedgeWorld FundSelect platform goes live

HedgeWorld FundSelect is launching its hedge fund supermarket service to individuals and IFAs, giving access to investment in its list of single and multi-manager hedge funds.Over 100 single and multi-manager hedge funds have agreed to list their funds on the Bermuda-based platform. HedgeWorld Markets managing director Jeff Joseph says: “Hedge fund strategies are an increasingly […]

Eastern Europe is the place for Baring Isa

Baring Asset Management is making its emerging Europe investment trust available to investors who want to access it via an individual savings account (ISA).The Isa has been aimed at the experienced investor who is looking to use all of their Isa allowance and who is comfortable with a high-risk investment.It will invest in the Baring […]

Seager attacks &#39fat cat&#39 network chiefs

IFA and Network Whitechurch Securities chairman Kean Seager has slammed big network chiefs, accusing them of being “fat cats dining on the cream” by overcharging IFA member firms.Seager, who set up the Whitechurch Network last year, attracting 50 firms, att-acks the bigger networks for “milking” IFAs through high charges, saying firms get little in return […]

The return of emerging markets

Ewan Thompson, Head of Emerging Market Equities, Neptune Although in political terms 2016 will be remembered for the seismic shocks of the Brexit vote and Trump’s presidential victory, the year was also a watershed for the global economy and emerging markets in particular. Following five years in the wilderness, the conditions are now in place […]


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