Fitch Ratings has downgraded Resolution’s rating to negative following Standard Life’s withdrawal of its offer this week. Fitch says Pearl’s offer is “potentially detrimental” to Resolution’s credit quality.
Rating agencies have confirmed they are looking into whether they will provide a separate rating or tool for liquidity risk, after a grilling from the Treasury Select Committee today.
Advisers hope FSA chief executive Hector Sants will use his speech at the Aifa dinner next Wednesday to stamp his authority on the retail distribution review.The dinner will be the first chance to get an insight into Sants’ thinking but opinion is divided on whether he will offer advisers an olive branch or take a […]
Mortgage industry figures are disappointed that the Bank of England monetary commitee failed to cut bank base rate last week.The MPC held the rate at 5.75 per cent, as broadly expected by the market.Many commentators point to the bank’s inflation report this week as the key indicator of future rate directions.Royal London Asset Management economist […]
Abbey’s recent launch of a two-year fixed rate with a £10,000 fee generated a significant amount of media comment. Abbey justified it by saying that it was good value as the fee was cheaper for big loans than the 2 per cent that some of its competitors were charging.I see nothing wrong in principle with […]
Rob Burnett, Head of European equities at Neptune Many commentators have suggested that the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Is this likely and what is the mechanism for this to happen, asks Rob Burnett, Manager of the Neptune European Opportunities Fund. Read more: https://www.realworldinvestors.com/Posts/Read/1371/Frexit_and_contagion_risk_in_Europe […]
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]