Europe

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LGIM poaches from Jupiter for retail sales head

Legal & General Investment Management has hired James Crossley as UK retail sales head. Crossley joins the team from Jupiter, where he was overseeing the UK retail distribution and retail sales team. Crossley replaces Simon Hynes, who worked with Crossley at Jupiter. Hynes recently took on the role of EMEA retail distribution head at LGIM where he […]

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Advisers demand more pay over regulatory overload

Advisers claim they should be paid more for the extra work new regulations are bringing to their companies. European regulations that were implemented this year, such as Mifid II and Priips, require adviser firms to produce additional reporting on product suitability and build cost disclosure documents to improve transparency for their clients. Speaking today at […]

Allianz launches ‘outperformance’ fee

Allianz Global Investors has launched a performance fee structure on five of its UK funds in response to the competition with passive providers and an increasing transparency clampdown. The ‘outperformance fee’ share class will charge a fixed fee of 20 basis points and a performance fee of 20 per cent that will apply only if the […]

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Moneybox mulls Sipp launch

Mobile savings app Moneybox is eyeing the launch of a Sipp, joining other digital wealth managers entering the retirement arena, Money Marketing understands. Moneybox allows customers to allocate small amounts of savings towards investment plans by rounding up card payments to the nearest pound. In April 2016, Moneybox was among the small number of direct-to-consumer […]

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FCA: IFAs can sit on fund group boards as independent directors

The FCA has confirmed that appointing financial advisers to be independent directors on the boards of asset management firms would not necessarily breach conflict of interest rules. In new rules the FCA put forward to improve the asset management sector earlier this month, the regulator said it wants fund houses to hire independent directors to […]

FCA warns of fraudulent Jupiter clone firm

The FCA has warned consumers that a scam firm has been pretending to be Jupiter Asset Management. The clone firm, has been operating under the name of “Jupiter Fund Management” but is not related to the real Jupiter. According to the FCA, fraudsters are using the details to convince people they are an authorised firm. Jupiter […]

Volatility fears take multi-asset fund sales to £1bn

High market volatility in February resulted in more retail investors using multi-asset fund managers and pushing net sales up to £1bn, new figures show. Data from the Investment Association tracking net retail fund sales in February show investors avoided both bond and equity funds with £235m and £136m outflows, respectively. In early February the US […]

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FCA to probe Aviva preference shares plan

The FCA has launched a review to examine if Aviva‘s plan to cancel its high yielding preference shares broke market abuse rules. Investors pressured Aviva to scrap its plans to cancel £450m of high-yielding preference shares at par value, Last week the insurer said it was not going ahead with the plans. Cancelling the plans […]