Tracker funds saw outflows of £196m in the first quarter, according to the Investment Management Association. This time last year, outflows were only £32m.
Prime Minister Gordon Brown has announced that he is stepping down as leader of the Labour Party, with a new leader to be in place by the Labour Party conference in September.
Accord has today launched a range of new mortgage for borrowers requiring larger loans of up to £1.5m.
A resurgence in investment bonds is expected as the life industry migrates its product structures to conform with the FSA’s retail distribution review. While sales of investment bonds, both on and offshore, still look flat relative to their 2007 levels, greater interest in the wrappers is becoming evident. Tax and pension changes implemented in April also appear to be bolstering the product that a year ago many were calling outdated.
A Tory official says the Financial Services Authority could survive the new Government’s banking regulation plans.
Mark Martin, Investment Director, Head of UK Equities At 10 per cent of the portfolio, Carpetright is a major holding in the Neptune UK Mid Cap Fund and one of its most contrarian positions, based primarily on the company’s significant self-help potential as well as exposure to UK and European economic recovery. The company has recently appointed […]
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Sims Financial Planning has become the third adviser acquisition this year for consolidator Fairstone. Three staff will join Fairstone, bringing funds under management to more than £90m along with total fee income of almost £500,000. Sims is the latest firm to be fully acquired by Fairstone after joining its downstream buyout programme in July 2015. […]
Aim listed advice and investment firm Harwood Wealth Management has continued its run of acquisitions with a deal to buy an Ascot-based retirement advice specialist. Harwood has acquired the assets of Plan65 for up to £1.56m depending on performance, with an initial payment of £810,000 coming out of Harwood’s existing cash reserve and the rest […]
Old Mutual Wealth is expecting to list on the London Stock Exchange as Quilter on 25 June, according to an investor prospectus, as the chief executive of parent company Old Mutual has resigned. Bruce Hemphill, who has been Old Mutual group chief executive since November 2015, resigned from the boards of Old Mutual Group and […]