Sesame has negotiated a 10 per cent average reduction in professional indemnity ins-urance for its members.The deal has been struck with professional indemnity insurance broker Windsor, which already supplies PI cover to the majority of Sesame members. The agreement comes after a 15 per cent reduction last year. Sesame says it expects further cuts on excess levels and claims the deal offers better terms than are generally available in the market. But rival PI broker PYV says it is confident it can offer improved terms and has sent out a mailshot to Sesame firms asking them to send it Windsor’s proposal forms. Sesame spokesman Jared Aitken says: “We have been able to negotiate a deal which we believe is superior to that which is generally available to the rest of the IFA sector.” But Collegiate spokesman Ron Kennedy says: “Ten per cent is a small reduction compared with the general reductions of between 20 and 25 per cent across the market.”
It is always refreshing to see a fund management company admit there might be better people at managing money than itself. Norwich Union has done precisely that with the launch of its new UK special situations fund. It has outsourced the management of the fund to undoubted experts Richard Buxton and Andy Brough of Schroders. […]
Ingenious Asset Management has recruited Peter Clark, Paul Gibson, Keith Barrett, Gerald Slocock and Victoria Prendergast as investment directors from Singer & Friedlander.All five are senior investment professionals and have an average of over twenty years experience in the industry of building a portfolio management business. Ingenious Asset Management is the asset management business of […]
Aaarrggggh. Yet more technical papers that must be read. I don’t know about you but my pile of reading is nearly reaching the ceiling.
Hats off to Lansons Public Relations executive Jeena Nadarajan when asking a stroppy editor about his dietary requirements on behalf of a client and getting email complaints about wild mushroom in mushroom gratin. She replied: “If I was the cook, you would all get vegetable samosa, fish cutlet and a variety of chutneys, masala dosa […]
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Transact parent IntegraFin Holdings is applying to list on the main market of the London Stock Exchange with the float expected to take place in March. IntegraFin today confirmed its intention to go ahead with an initial public offering. Shares in the company will be offered to UK institutional investors. Those “elsewhere outside the United […]
Prime Minister Theresa May has promised to crack down on highly paid executives who do not support workers’ pensions enough. In an article for Sunday’s Observer May argues markets need to be rebalanced in favour of ordinary people. She makes the case on the back of outsourcer Carillion going into liquidation last week forcing the […]
Some fund managers’ costs have been shown to increase at least two times beyond the ongoing charges figure, as Mifid II rules around fee disclosure take effect. According to research by the Financial Times and the Lang Cat, the cost of investing in funds run by investment giants including BlackRock and Vanguard can double once […]