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Skandia takes stake in EMX

Skandia is understood to be taking a stake in Autif’s fund transaction and valuation hub EMX.

The other shareholders are Fidelity, Invesco, M&G, Scottish Widows, Standard Life and Threadneedle who invested in the project, when it failed to raise a minimum of £6m in a rights issue earlier this year.

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Endowment complaints up 300%

Complaints over mortgage endowments rocketed by 300 per cent in the yearto March, according to the Financial Ombudsman Service. The ombuds-man saysit handled over 9,000 complaints last year, up from 3,000 in the year toMarch 2000. It expects to deal with around 13,000 disgruntled endowmentpolicyholders this year. It blames exaggerated sales talk, limitedcontractual comm-itments and […]

FIS appoints retail client services director

Friends Ivory & Sime is appointing Cheryl Robertson as retail client services director following its acquisition of Friends Provident&#39s retail investment business.Robertson will be responsible for directing and managing FIS&#39s retail fund client administration and support functions.FIS managing director, retail and institutional business Gary Mairs says: “Cheryl&#39s appointment continues our commitment to developing a strong […]

Govett trust votes against liquidation

Govett Asian Smaller Companies Investment Trust shareholders today voted to rebut a move from Charlemagne Capital, formerly Regent Europe Asset Management, to liquidate the trust.Eighty-eight per cent of shareholders voted against the resolution, which proposed liquidation of the £29m trust.Govett Investments director of investment trusts James de Sausmarez says: “This represents a positive endorsement of […]

Inside Edge

Well, what a week that was. On Tuesday morning, Misys ann-ounced an agreedbid for DBS Financial Management, bringing considerable technology savingsfor product providers and real hope for a truly outstanding, fully workingIFA quotes and service portal within the next 12 months or so. It will be great to work closely with Ken Davy and his […]

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