View more on these topics

Stavis takes over Fidelity income plus fund from McCarron

Fidelity is handing the management of its income plus fund to John Stavis following current manager Tim McCarron&#39s decision to concentrate on his European mandates.

Stavis, who is manager of the growth & income fund, will take the reins of the income plus fund on January 1, having spent the last few weeks working closely with McCarron, attending company meetings and sharing market intelligence. Stavis is a similar manager to McCarron and will focus on attractively priced, cash-generative companies, particularly those with turn-round potential.

McCarron will concentrate on running European mandates, including the flagship European fund, one of Fidelity&#39s strongest performers. The income plus fund has not fared as well, having returned 16.85 per cent over one year, ranking it 24th out of 76 funds in its sector.

Senior portfolio strategist John Ross says: “John is a natural successor to Tim and we are confident that he has the knowledge and expertise to build on Tim&#39s successful, seven-year track record.”

Chelsea Financial Services head of research Juliet Schooling says: “European and UK funds are not really compatible. It makes sense for McCarron to concentrate on Europe, where he has done very well.”


Only a quarter of IFAs concerned over ombudsman&#39s £360 case fee

IFAs do not see the cost of the Financial Ombudsman Service&#39s £360 case fee as a significant problem for their businesses, according to the Fair Deal for IFAs survey. The positive reaction may stem from recent indications that the FOS plans to scrap the fee for the first two complaints against an IFA in a […]

McCarthy warns unit trust sector against late trading

FSA chairman Callum McCarthy held a meeting with 25 chief executives from the largest unit trust managers to remind them of their responsibilities in relation to late trading and market timing. On the back of scandals in the US the regulator has surveyed UK fund managers but dound no signs so far that the &#39abuses&#39 […]

Brown hits back at Tories plan to reinstate earnings link for pensions

Chancellor Gordon Brown has hit back at the Conservative Party&#39s proposal to re-establish the link between increases in state pensions and rises in earnings. In his pre-budget report to the House of Commons Brown said the Tory policy would raise a deficit on public finances of 3 per cent a year and would undermine the […]

Lincoln launches structured product

Lincoln Financial Group is launching a new IFA product. The Staged Investment Plan is linked to 11 trusts that are managed by fund managers: Goldman Sachs Asset Management and Delaware International Advisers.


Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


News and expert analysis straight to your inbox

Sign up


    Leave a comment