Congratulations to Phil Wicks, who became the fastest financial professional in the history of the JP Morgan Chase Corporate Challenge on July 12. The claims administrator from Legal & General ran 3.5 miles around Battersea Park in 16 minutes 45 seconds. The 23-year-old was joined by nearly 13,000 other participants from 302 companies in the London leg. The race moves next to San Francisco on September 19.
Standard & Poor’s Ratings Services has placed F&C Asset Management on CreditWatch with negative implications after the announcement that it is to combine with Resolution Asset Management.S&P says the combination of F&C with RAM should bring benefits in terms of critical mass and cost efficiency and F&C’s strategy remains unchanged.But it says is unclear whether […]
The House of Lords has made its final stand against the implementation of home information packs on August 1, with members voting to scrap the controversial scheme.The motion to revoke the legislation was passed by a small majority of 186 to 160. However, with Parliament going into summer recess, the regime looks set to be […]
The FSA has published guides to help adviser firms improve treating customers fairly standards and promised less scrutiny of firms that prove their TCF credentials.The FSA has today published a paper on TCF culture including examples of good and bad practice and a framework allowing a firm to assess the risk its culture presents in […]
A week is a long time in fund management. Returning after a week’s holiday. I am met with a torrent of emails and press cuttings about investors “losing money” on property funds.
Welcome to the latest update for Allianz Technology Trust PLC from the Trust’s portfolio manager, Walter Price. Portfolio review The Trust’s NAV returned 4.3% , outperforming the Dow Jones World Technology Index return of 2.8%. In US dollar terms, the portfolio gained 4.8%. During the month, stock selection contributed to relative performance, and industry allocation […]
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A High Court judge says the FCA can submit evidence in a case that could shape how Sipp misselling claims are handled in the future. In the case, which started today, lorry driver Russell Adams alleges Carey Pensions missold him a self-invested personal pension. Carey Pensions is accused of using unregulated introducers to invest Adams’s […]
Studies have found funds can be too big or too small to outperform, suggesting size does matter The assessment of whether to invest in a certain fund is a tricky business. Bearing in mind roughly 90 per cent of active funds do not beat their benchmarks over periods longer than 10 years, the odds are […]
The following sorry verse embodies procrastination on a whole new level: “Hello there, my name’s Phil; I rap like a small bear writing a will [diligently]; Estate-planning, ninja-whooping IHT; Shame I’m not as bizzie [urban affectation] with the RLP.” These words were penned in response to my father’s short verse sent to me, after the […]