Unilever started its £130m damages and negligence claim this week, brought against Merrill Lynch over the management of its pension fund. Unilever says Mercury Asset Management, subsequently bought by Merrill Lynch, followed a risky investment strategy even though it had been told to invest its pension fund more cautiously. Unilever says Mercury repeatedly failed to meet a downside return of 3 per cent below the FTSE all-share index. The case is set to run for six to eight weeks and a judgment is expected in January 2002.
It is becoming increasingly obvious that many (though not all) IFAs are taking the ostrich attitude towards the internet and e-marketing.Contrary to what we often hear, only 12 per cent of internet users are the unemployed and students. Over 30 per cent of users are middle and senior management and professionals.The average user is of […]
AA IFA, the telephone-based advice service, is considering outsourcing face-to-face advice to regional IFAs if there is enough demand for the service after a test period.The phone service goes live this month with three IFAs during its pilot phase, which runs until the end of the year. During that time, consumers wanting face-to-face advice will […]
The third of JO Hambro Capital Managements quartet of new retail products is the UK emerging companies fund.Emerging companies is an open-ended investment company (Oeic) listed on the Dublin Stock Exchange. It is aimed at experienced investors who are looking for growth over the long term and medium risk.To spread the risk, the Oeic will […]
Stakeholder designation website www.pensionsbusiness.com has signed a deal with The Exchange for an undisclosed sum to provide users with sales, marketing and distribution rights for its service.The service enables IFAs to provide online group stakeholder transaction services via pensionsbusiness's online channel which effectively administers schemes from designation through to population.The launch will be supported by […]
The Artemis UK Smaller Companies Fund has delivered good returns through the bull market. But its cautious style is better suited to the trickier times which could be coming, says manager Mark Niznik.
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M&G is merging its Global Leaders fund into the Global Themes fund in the wake of a review resulting from fund manager Aled Smith’s decision to step down. The proposed merger has been approved by the regulator but is still subject to approval from shareholders. The Global Themes fund will continue to be managed by […]
Face-to-face advice still holds a firm place in serving clients, despite an increasing demand for mobile and remote services in adviser practices. Research from consolidator Fairstone from November shows there has been a 10 per cent decrease in the use of face-to-face financial advisers over the past seven years. However, advisers speaking to Money Marketing […]