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Schroder again leads industry rich

The family at the helm of the UK&#39s last big independent fund manager have once again topped the financial services&#39 presence in the Sunday Times 2002 Rich List.

Bruno Schroder and family dropped to 12th place from sixth place last year and saw their fortune fall to £1.3bn from £1.75bn in 2001 but were still placed higher than any other financial services personality.

Next on the list was Rothschild Asset Management chairman Sir Evelyn de Rothschild and family in 56th place with £500m, down by five places from 51st last year but with the same fortune.

New Star Asset Management chairman John Duffield came in at 137th place with a £250m fortune and retired Merrill Lynch director Carol Galley was listed at 432nd with £80m.

Duffield&#39s former right-hand man John Robinson got a £50m payout when Jupiter was sold to Commerzbank, placing him in 720th place with a total of £52m.

Chase De Vere Investments founder and majority owner Mike Edge made £50m when he sold the company to Bristol & West in 2000, putting him in 751st place.

Rounding off the financial services presence on the survey was sub-prime lender Kensington Mortgage Company co-founder and non-executive director Martin Finegold, who was 951st with £37m.


Teather and Greenwood takes Aim

Teather & Greenwood Investment Management UK Smaller Companies Fund Product details Type: Oeic Aim: Growth by investing in Aim-listed companies Minimum investment: Lump sum £500 Investment split: 100 % invested in Aim-listed companies Isa link: Yes Pep transfer: Yes Charges: Initial 5 %, annual 1.4 % Commission: Initial 3 % Tel: 020 7426 9003 Broker […]

Close lobbies for Sipp property investment

Close Brothers is working with the British Property Federation to lobby the Government on allowing residential property investment in self-invested personal pensions and small self-administered schemes. It says residential property is a safe and appropriate investments for pension funds to own and the ban on residential property for Sipps and Ssases should be lifted.

Set the Max with Liverpool Victoria

Liverpool Victoria – Max Type: Unitised with-profits endowment Aim: Growth by investing in the Liverpool Victoria with-profits fund Minimum sum assured/premium: £4,500/£50 a month, £600 a year Minimum-maximum term: 10 years Fund links: With-profits Charges: Initial charge version – initial subject to negotiation, annual implicit. Level charge version – annual 0.32% Options: Waiver of premium […]

Scarborough Building Society – flexible five-year discount

Scarborough Building Society flexible five-year discountDiscounted term: Five yearsDiscount:1.2% Payable rate: 4.79%Minimum loan: £25,000Maximum loan: £250,000Income multiples: 3 x principal, 2.5 x joint Arrangement fee: NoneRedemption fee: 6% of sum repaid payable within first five yearsConditions: Up to 95% LTV, no MIG up to 90% LTV, 6% charge made on any capital repayment that exceeds […]

Planning now for the residence nil-rate band

Graeme Robb, senior technical manager at Prudential, writes about the residence nil-rate band and the advice opportunities it presents for you when tax year-end planning with your clients. On our Planning Matters hub, we considered a widow, Margaret, and a married couple, John and Anne, for whom the residence nil-rate band (RNRB) is influencing planning […]


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