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Selestia adds property to website

Selestia has added property to its multi-manager proposition and announced two new property funds will be available from Norwich Union and Edinburgh Fund Managers to its website.

The new funds will be available from this week and can be accessed through Selestia&#39s investment account, investment bond or offshore collective investment bond.

It has chosen NU and EFM&#39s funds because they invest directly in property rather than in property shares, which it says tend to follow the fortunes of the stockmarket thereby reducing diversification benefits.

Selestia managing director Brett Williams says: “Property is an excellent diversifier. There is relatively little correlation between variations in property and other major asset classes such as cash, fixed interest and equities, so it can provide further risk reduction for the same anticipated level of return.”


Another increase in adviser numbers for AFPC

The number of IFAs completing the Advanced Financial Planning Certificate has increased for the second consecutive exam session, according to the CII.A total of 343 advisers completed the three exams required to be awarded the AFPC following the April 2002 exam sessions, up from 304 who finished the work at last year&#39s October session. This […]

Mortgage lending rises to new record in May

Mortgage lending continued to boom in May, with Council of Mortgage Lenders&#39 figures showing that gross advances rose by 19 per cent to £19.5bn from £16.4bn in April and by 43 per cent from £13.6bn in May 2001.The Building Societies&#39 Association says gross adv-ances by members rose by 27 per cent to £3.4bn in May […]

Five providers take stakes in Millfield in £17.2m deal

Millfield has raised £16m through the issue of shares to five product providers and private investors.Announcing its profits had increased 90 per cent to £5.9m to March 2002 from £3.1m in 2001, Millfield is bringing Aegon, Friends Provident, Norwich Union, Scottish Widows and Skandia on board as investors.Millfield is also setting up a software company […]

HBOS confident on loan market share

HBOS says it is confident it will exceed its target of a 25 per cent share of net mortgage lending in the UK. But it admits an uncertain economy and depressed equity markets could lead to difficult trading conditions for its investment products&#39 business. Its interim results for 2002 will be announced on July 25.

Investment clock economic update

In the latest Investment Clock economic update, Ian Kernohan, Senior Economist at Royal London Asset Management, discusses the implications of the US Federal Reserve’s recent hike in interest rates and upcoming French presidential election. The value of investments and the income from them is not guaranteed and may go down as well as up and […]


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