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.
Norwich Union has introduced its individual cash plan, a healthcare cash plan that offers cash benefits towards the cost of travel vaccinations.The cash plan has five levels of cover available to single people, couples and families, including lower premiums for single parents. Premiums for single people range from £6 to £30 a month. Couples pay […]
Lives: Tring, HertfordshireBorn: June 30, 1959 in Gillingham, KentAge: 42Education: BA (Hons) Economics, AberystwythCareer to date: 1981-1993: Allied Dunbar – graduate trainer, broker consultant and branch manager, 1993-98: M&G Group – IFA sales director, 1998-99: sales and marketing director at wealth management start-up Independent Insurance, 1999-2000: J Rothschild Inter-national – sales and marketing directorCareer ambition: […]
The debate on funding Britain's crumbling public services has not abated since the general election, with healthcare having a particularly high profile.After years of discussion and a royal commission, free nursing care for long-term care patients has finally been introduced in England, with the devolved assemblies expected to follow in April 2002. But while there […]
IFA Pam Warren was named Woman of the Year this week in recognition of her work in pushing for improvements in rail safety. Ms Warren, who formerly ran her own pensions advice company, received the award after receiving severe burns in the Paddington rail crash two years ago, and undergoing 22 operations to her face. […]
So are the new Pension Freedoms being used? The answer to this appears to be a very clear ‘yes’. Figures from the Financial Conduct Authority (FCA) this week provides firm evidence of such usage.
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Norway’s central bank Norges Bank now holds a 3.1 per cent stake in St James’s Place after the completion of a transaction deal last Friday. As part of its transaction with SJP, Norges Bank’s total number of voting rights will be 529,080,404. SJP posted record gross inflows of £14.6bn in year-end results released last month, […]
Encouraging factors suggest April’s increase in contributions will not lead to higher opt-out rates after all The world of workplace pensions has been transformed in the past six years, but we are on the eve of a vital test as to whether this has all been an illusion. The success of automatic enrolment to date […]
Miton multi-asset star managers David Jane and Anthony Rayner were keen to emphasise pragmatism when launching their new fund earlier this year. The Balanced Multi-Asset fund completes a four-strong range for the team, sitting alongside its Cautious and Defensive Multi-Asset and Cautious Monthly Income vehicles. The fund launched with a 10 per cent cash position. […]