View more on these topics

Resurgent Aberdeen still divides analysts and IFAs

Despite a strong revival from Aberdeen Asset Management, analysts and IFAs are at odds over the future of the group.

The group share price has rallied a startling 63 per cent to 71p at the time of going to press from the October low of 26.5p on the back of rumours that it is on the verge of selling its property arm.

But some IFAs, including Bates Investment Services, still doubt that Aberdeen can recover from the split-cap crisis. Bates issued advice to sell to clients in October on all Aberdeen funds, apart from progressive growth, advising investors to withdraw their money.

Some sources consider it possible that the group could be heading for liquidation but others are predicting a radical reb- randing that may involve a name change or a reversion to the Prolific brand which was bought by AAM five years ago.

While not advocating a sell policy, Simpsons of Brighton partner Andrew Merricks is cautious. He says: “Aberdeen is vulnerable and, in my opinion, all that another investment group needs to do is go in and strip out all the good managers.”

Bestinvest fund research analyst James Calder says: “There is a good chance that it will take a good deal more pain but you have to look at a five-year time horizon and it can bounce back.”

Recommended

Axa PPP Healthcare – Cashback

Tuesday, 10 December 2002 Type: Healthcare cash plan Minimum premium: £4.81 level one, £9.62 level two, £14.43 level three Minimum-maximum ages: 18-60 Maximum benefit: Level one &#45 dental treatment £45, dental accident up to £10,000, optical benefit £35, physiotherapy, osteopathy, chiropractic, acupuncture and homeopathy £130, chiropody and podiatry £40, specialist consultation fees including diagnostic tests […]

IFA E&H and iimia to merge

The parent company of investment manager iimia and the partners of pension advice specialist Eveleigh & Huckle have signed a heads of agreement to merge.Subject to due diligence and regulatory approval, the merged company will offer independent investment management holistic financial planning, with around £150m of funds under management.It will trade under the iimia brand […]

New chairman for NAPF announced

Terry Faulkner will be the next chairman of the National Association of Pension Funds, taking over from Peter Thompson who steps down next May.Faulkner is currently chairman of the NAPF benefits council, a director of the NAPF and a trustee of the NAPF pension scheme. He is also group pensions and benefits manager of Rexam […]

Medical disclosure curbed in BMA-ABI agreement

The British Medical Association has agreed new guidance with the ABI limiting the amount of sensitive information that doctors can disclose to insurers on subjects such as sexual health.Doctors will no longer be required to provide details of all aspects of their patients&#39 sexual history as this could be an obstacle for people considering HIV […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment