View more on these topics

Solus streamlines its fund offering

Brown Shipley&#39s fund management arm Solus has seen a reshuffle of funds and management team.

The shake-up has been led by new managing director Tony Hurley and chairman David Rough.

Hurley, who is also Brown Shipley&#39s head of private banking, has taken over from Graeme Sinclair, who is leaving the company.

Brown Shipley&#39s investment policy committee will now be responsible for overseeing all Solus funds, with the current portfolio of 17 funds being reduced to eight.

Hurley has brought in former Mercury Asset Management director and Merrill Lynch Investment Managers managing director Paul Harwood to advise on the UK special situations fund and a new UK flagship fund. Former Legal & General Investment Management compliance director Janet Carey joins Solus as operations director.

The sales and marketing team has been reduced and a dedicated liaison manager is to be appointed to maintain IFA relationships.

Hurley says: “Since January 2003, funds under management have grown to £236m from £147m, largely as a result of growth from existing clients. In the period to September 2003, latest figures show 10 Solus funds outperformed their benchmarks. Strengthening links with Brown Shipley&#39s investment management business and integrating administration and compliance processes will help us to continue delivering consistent performance and enhanced client service.”

Recommended

New version of L&G&#39s distribution fund

Legal & General is launching a unit trust version of its £1bn distribution life fund this week, offering 5 per cent initial commission but no trail. The fund, to be managed by David North, will invest at least 60 per cent in bonds, enabling it to retain the tax credit within an Isa. The initial […]

Southern Pacific rides the sub-prime wave

Sub-prime specialist lender Southern Pacific Mortgage is set to introduce a light adverse mortgage, believing the market has huge potential. The new product will be rolled out on December 1 and director of credit Stuart Aitken expects large amounts of interest. He predicts it could eventually account for up to 25 per cent of SPML&#39s […]

Trusts &#39found wanting&#39 over help for splits victims

AITC director general Daniel Godfrey has criticised the industry for its reluctance to offer voluntary financial assistance to the hardest-hit victims of collapsed split-capital trusts. Speaking in London last week, Godfrey said the AITC has been lucky that demand for payouts from its hardship fund has been lower than feared, as financial help from the […]

Leaping the hurdles

Being an IFA should be an ideal job for a woman. The hours are flexible and home working is possible, so work can be planned to fit around family life. Yet the IFA market is still dominated by men. In a recent survey by Aifa, only 10 per cent of respondents were women. Advisory & […]

Tax year-end planning for annual allowance

Last tax year-end there was a lot to think about in relation to planning. The introduction of the tapered annual allowance and the implications of moving to a fixed pension input period, the reduction in the lifetime allowance and potentially applying for protection, and the concern about changes to tax relief, to name a few. […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com