Former M&G head of retail Phil Wagstaff has denied industry rumours that he is setting up an investment boutique with high-profile figures former SG Asset Management retail head John Ions and former Invesco Perpetual chief executive Mike Webb.
Wagstaff confirmed that the trio had looked at the proposal but had decided against taking the plan further. He was managing director of M&G’s retail division for three years and was with the company for seven years before resigning last June. He has also worked for Hender-sons and NM Schroder. Ions joined SG Asset Management from Aberdeen back in 1998, leaving in 2003. Ions is no stranger to boutiques, having worked at GT founder Richard Thornton’s boutique fund management house Thornton in the early 1990s. He was unavailable for comment. Wagstaff says: “It was an idea we kicked about but nothing came of it and I am just looking for the right opportunity to get back into the industry.” Association of Investment Trust Companies director general Daniel Godfrey believes it is time at long last to draw a line under the split-cap debacleView more on these topicsNews
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Britannia International’s optimum growth bond 9 is a six-year guaranteed equity bond which could mature in year three.
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Hargreaves Lansdown fund of funds have broken 250m in sales since the firm launched its first multi manager product in 2001. It uses a mixture of qualitative and quantitative analysis to run the money under Lee Gardhouse, who has developed his own system to identify how returns are achieved. The three Hargreaves Lansdown multi manager […]
OUT OF CONTEXT
l “I’m on tip-top form, albeit recovering from a nasty fall and, no, I wasn’t drunk, I was out walking my dog and didn’t see a hole in the ground.” – Britannia’s Ingerlise Bulloch. l “I specialise in body parts.” – Mike Williams, head of general insurance at Bankhall. l “I think being frightfully posh […]
Rights of access
There has been a lot of talk about the positive impact on the self-invested personal pension market of the simplification proposals, particularly the opportunities arising from the new investment freedoms. However, far less has been said about the increasingly restrictive impact of the governing rules on protected rights. The Pension Schemes Act 1993 laid down […]
Artemis Global Income: sustaining yield
Jacob de Tusch-Lec explains why he favours bond proxies in Europe (and China). To watch the video click here
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Investment insight: Are you clear how your ATR tool works?
The regulator says advisers need to know how tools work, but many lack confidence and knowledge
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VouchedFor: FCA directory could see more ‘bad’ advisers being picked
The proposed FCA directory that will include advisers’ details could see more people finding “bad advisers”, according to adviser review site VouchedFor. A LinkedIn article by VouchedFor chief executive Adam Price says this is because the regulator’s consultation paper pitching the directory suggested little around underlying adviser checks being substantively improved. In the article, Price says: […]
Cold-calling pension firm shut down
A pension company that invested in storage products with investors’ savings has been ordered into liquidation by the High Court. Kent-based Chartwell Trustee Pension Solutions was the sole trustee of the Pinnacle Pension Scheme. Chartwell amassed in excess of £4.8m of members’ pension funds following an apparent cold-calling telesales operation. Members were told to expect 8 […]