Lazard European smaller companies is a new entry to the top 10 unit trusts, returning 20.41 per cent over the past year. The fund is head and shoulders above its sector peers over the year, with a return more than 40 per cent greater than the second-placed fund run by Colonial First State Investments. European smaller companies has been one of the worst-performing sectors over the year, with an average return of -30.4 per cent. The average annual unit trust return across all sectors fell further this week to -13.25 per cent.
Towry Law and the Investors' Compensation Scheme have agreed a deal to split the proceeds of any litigation taken over Advizas' pension misselling liability.Towry and its new owner AMP say they are talking to lawyers about the possibility of legal action against undisclosed parties over the purchase of Advizas from Hogg Robinson in January 2000.Towry […]
The PIA has suspended three IFA firms for failing to renew their PI insurance cover. Blenheim Financial Services of Church Farm, Coates, Cirencester, Gloucestershire; Fernside Financial Services of Feltham Road, Ashford, Middlesex and R&W Financial Services of Main Street, Shildon, County Durham have had investment business suspended pending their renewal of PI cover.
Skandia and Hargreaves Lansdown have joined the likes of Fidelity and M&G in taking a stake in the fund trading and messaging platform EMX.The eight shareholders – which also include Threadneedle, Invesco Perpetual, Standard Life and Lloyds TSB – have also all committed to an extra£8.5m of funding for the platform, taking the total amount […]
ABI director general Mary Francis has attacked the FSA, likening it to a provisional wing of the Consumers' Association, saying it does little to recognise the efforts made by the industry to improve consumer confidence.Francis' onslaught follows her outspoken attack on the Treasury last year saying it should remember the Millen-nium Dome and leave the […]
Rob Burnett, Head of European Equities Although slightly down on their previous election result, Syriza managed to win just over 35 per cent of the vote in Sunday’s election, seeing off the challenge of New Democracy. While this is still short of a majority, Syriza will once again go into coalition with the nationalist Independent […]
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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]