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Standard picks F&C chief to push closed-end funds

Standard Life Investments is developing its closed-end fund business with the appointment of Gordon Humphries as head of investment companies.

Humphries, who is expected to join the firm this summer, was head of invest ment trusts at F&C Asset Management.

Working with head of UK Institutional Business George Walker, Humphries will assume responsibility for leading and developing Standard Life Investments’ closed end funds business, including investment trusts and limited partnerships.

The firm closed its European property growth fund. Following a year of restructuring of the fund to a limited partnership in June 2005, an addit-ional 250m euros was raised. Once fully invested and 50 per cent geared, EPGF will have a fund size of over 800m euros.

Walker says: “The addition of Gordon Humphries to the team represents a key strategic step in the expansion of closed end business. There is considerable scope for us to win management contracts for investment trusts.”


Concerns grow over FSA plans for lenders to police brokers

Fears that independent mortgage brokers could be left out in the cold if the FSA forces lenders to police intermediaries have been echoed by many major lenders. Cheltenham & Gloucester fears that smaller brokers could be sidelined by the plans while Alliance & Leicester says the whole market will suffer as innovation will be stifled. […]

This week in Politics

Following on from last week’s ‘Money isn’t everything’ speech from David Cameron Shadow Chancellor George Osborne moved further away from traditional perceptions of the Tory Party telling the BBC the next Conservative manifesto will not pledge tax cuts.

A world of difference

I was disappointed by Ian McKenna’s review of wrap offerings in the e-commerce supplement. He does not distinguish between platforms which offer a wide range of investment funds, such as Cofunds, and true wraps, such as Transact, that allow any investment as long as it is quoted on a stockmarket. There is a world of […]

Jupiter could float as staff get incentives

Jupiter Asset Management’s owner Commerzbank says it will decide whether to float the firm on the London Stock Exchange by the end of the year. City estimates value Jupiter at 1bn although both sides stress no decision has been made. Jupiter recently put in place a long-term incentive scheme for key managers, echoing Gartmore’s lock-in […]


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