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The Daley Update

Abbey National Asset Managers has strengthened its European equities team with the appointment of three new fund managers. Maureen Hemphill joins from Murray Johnstone and Martin Robertson and Jeremy Hall join from Scottish Life. Scottish Life has also lost fund manager Alan Murray to rival Edin-burgh Fund Managers, where he will be derivatives fund manager.

Three of Canada Life&#39s unit trusts – balanced, Japanese growth and highincome – have been awarded A ratings from Standard & Poor&#39s.

Gartmore has app-ointed Alan Hadley as an equity finance specialist with its dealing and derivatives implementation team. Hadley, who joins this week, most recently worked for US Clearing/Fleet Securities, where he was responsible for the trading of European, Far East and Asian equities.

Baillie Gifford has created an emerging markets fund management team, bringing together all its emerging markets specialists under partner Gerald Smith. There will be six fund managers who together have more than 50 years&#39 experience in the team of 13. It will manage assets of more than £1bn.


Proposals to meet FSA&#39s PI objectives

The story in Money Marketing last week, headlined, FSA looks at scrapping PI, may have given your readers a misleading impression of our intentions.As CP 97 made clear, the FSA is proposing in the Integrated Prudential Source-book that PI would be manda-tory for financial advice firms with capital resources below £50m. PI provides protection for […]

Independent view

A recent Treasury discussion document asked for views on the subject of Catmarking of advice. You may have read the document. Assuming you had the time and inclination, you may have even responded to the document.Of course, many potential respondents may have doubted the point of making a response. After all, responses to such discussion […]

Multi-managers on the menu

Most life offices which are serious about distributing pension products through IFAs now offer funds managed by outside investment houses as well as their own. It is almost a case of having to. Their competitors offer this facility and IFAs expect them to offer it too.The offerings typically consist of UK and managed equity funds […]

Derbyshire Building Society axes most popular mortgages

Derbyshire Building Society has withdrawn several mortgages from its range because it could not cope with the number of applications they generated.Its three year and five year fixed rate loans have been replaced with mortgages with higher rates and its 4.99 per cent discount product has been pulled without replacement.The new three year fixed rate […]

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]


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