The £1.1bn Scottish Investment Trust has rejected a proposal from two of its institutional shareholders for a radical restructure. Hermes and Axa submitted what the board has called a “complex and costly” proposal to turn the fund in to a split fund, with the assets divided into a UK index fund and a managed fund. The board believes this leaves investors bearing increased costs for an uncertain outcome and is calling on the support of 35,000 shareholders who own 55 per cent of the trust.
For the IFA, what has already occurred in the pension review?The Government offer that produced an exodus of Serps opt-outs.The SIB assumption that all final-salary schemes would be in existence at normal retirement date to provide a guaranteed benefit.The abdication of any product responsibility by providers.The application of PIA rules on Fimbra members.The application of […]
The Annuity Bureau is urging the Government to keep money-back annuity products as simple as possible and says they could provide the answer to many of the criticisms of annuities.It says money-back annuities already exist in the form of purchased life annuities.These are voluntary annuities bought with an individual's own funds to supplement income and […]
Tuesday, June 18 2002 Type: Offshore guaranteed equity bond and high interest account GUARANTEED EQUITY BOND Aim: Growth linked to FTSE 100 index Minimum-maximum investment: £5,000-£2.5m Term: Five years Guarantee: Original capital returned in full at end of term Return: Up to 75% of growth in the FTSE 100 index over term Closing date: July […]
Northern Rock has introduced three fixed-rate bonds investing over different periods and a combined fixed-rate bond and equity tracker product called Fifty:Fifty Issue 9.Its one-year fixed-rate bond offers gross interest of 4.75 per cent until July 1, 2003. It is also offering bonds paying 5.2 per cent until July 1, 2004 and 5.35 per cent […]
Over the last seven years you have probably read countless articles and had endless discussions about when the Federal Reserve (Fed) is next going to hike. The chart below shows the Fed Funds rate implied by the market at the beginning of each year since 2010. The Fed did finally edge rates higher in December […]
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Three fund selectors give their views on choosing passive funds, blending, and investor suitability
The youngest ever fellow of the Personal Finance Society has moved to a new advice firm. Vito Faircloth gained the accolade last year at the age of just 22. He became level four qualified in August 2015 before taking additional exams with the professional body. Chief executive Keith Richards described the achievement as “truly remarkable”. […]
Providers are calling on the Work and Pensions Select Committee to tackle the advice gap and tax on pension withdrawals in its review of pension freedoms. The committee said last month it was opening an inquiry into whether the pension freedoms are achieving their objectives and if policy changes are needed. In its submission to […]