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The Daley Update

Legal & General has redrawn the terms and conditions on its unit trust range, axing many of its withdrawal char-ges and introducing monthly savings plans. All L&G index unit trusts, as well as the fixed-interest trust, high-income trust and ethical trust, will have their 1 per cent withdrawal fee removed from July 31 while all unit trusts will be eligible for a new monthly savings scheme, with a minimum contribution of just £25.

Invesco Perpetual has appointed Rita Whig as head of US equities. Whig joins from Royal London Asset Management. Previously, she worked as an international fund manager for Refuge Assurance and United Assurance Group.

NDF Administration has launched a capital guaranteed income plan offering a fixed tax-free income of 6 per cent in the first year and variable income linked to the dividends of FTSE 100 companies thereafter. Capital is 100 per cent guaranteed if it is invested for the six-year lifetime of the product.

Govett Investments has appointed Simon Wilson as head of marketing. He joins from Old Mutual. He will be marketing the group&#39s open-ended funds into the IFA market.


House price rises &#39unsustainable&#39

House prices are rising at an unsustainable rate but show no signs of slowing down, Nationwide Building Society is warning. The lender’s latest house price index shows property prices have shot up 10.9 per cent since last year, rising 1 per cent in July. Although last month’s figure marks a slowdown from June’s growth of […]

Skipton cleared by FOS

Skipton Building Society has been cleared of treating its Tessa and Isa customers unfairly by The Financial Ombudsman Service. Following months of speculation suggesting Skipton has not treated these customers well the ombudsman ruled the society’s products, taking into account interest rates and terms and conditions, were fair. Skipton’s loyalty Tessa allows access with no […]

Zurich Financial Services appoints new managing director

Zurich Financial Services has appointed Jim Reeve as the new managing director of Zifa, succeeding Jerry Grayburn who retired in April this year.Reeve was previously Zifa marketing director and has been with the Zurich group for 22 years. He is a former Eagle Star IFA sales and marketing director. Reeve has pledged to continue growing […]

Independent view

There seems to be a common theme evolving for the industry. A lengthening list of names from Robert Maxwell to Independent Insurance and now Towry Law seems to suggest that thorough external scrutiny by professional firms has proved to be less than robust in the cold light of day. Despite increasing requirements for record-keeping and […]

Leading Edge June – Investment panel debate

RLAM’s asset class specialists discuss some of the findings from the panel session at our recent Investment Conference. By Rob Williams, Head of Distribution Welcome to the latest edition of Leading Edge. It has been an eventful six months since the last e-zine. The European Central Bank announced ongoing stimulus measures, while the immigration crisis in Europe threw the […]


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