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Two more splits hit bottom

The board of Aberdeen Asset Management&#39s high income split cap investment trust called in the receivers this week and another, the Yeoman Investment Trust suspended its shares as the outlook for the sector continued to worsen.

High income along with the Aberdeen leveraged income suspended its shares on July 18, and is now unlikely to ever return any money to investors.

The suspension of the Yeoman fund, owned by BC Asset Management, does not bode well for the sector as almost a third of its shares are owned by other split caps.

Aberdeen owns 16 per cent, BFS controls 8 per cent and Exeter Fund Managers hold 7 per cent.


AIG LIfe offers low-cost trustee bond

AIG Life has established the premier trustee bond, which aims to provide pension trustees with low-cost access to a range of internal and external funds.AIG Life already has a trustee investment bond aimed at trustees with small portfolios but this bond is aimed at those with portfolios of at least £250,000. It is available in […]

Independent View

At a time when world stockmarkets have retreated rap-idly downhill and are peering over the cliff edge, perhaps it is also time to reflect on investor psychology and what has driven us to the extremes we have witnessed in recent times.Stockmarkets have become ever more sophisticated since the great South Sea bubble but the basic […]

F&C rejects Sandler claim over life funds&#39 tax bias

Sandler&#39s claim to be levelling the tax playing field bet-ween life offices and fund management companies has been dismissed by F&C, which claims the arena is already tilted in fund managers&#39 favour.Speaking at the F&C round table meeting in London last week, group head of insurance products Derek McLean said fund managers already benefit from […]

German IFA probed on accounting

German IFA giant MLP&#39s headquarters in Heidelberg were raided last week after an anonymous tip-off prompted the public prosecutor&#39s office to seize documents relating to its reinsurance business.In response, the firm, which aims to become a national IFA in the UK, published details of an audit conducted by Ernst & Young giving it a clean […]

Certification guide

Guide: how to… certify your pension scheme

Certification is highly complex and surrounded by a minefield of information and auto-enrolment jargon, which can make it very difficult to understand. However, for many employers it is a necessary process that must be executed successfully.


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