Parliamentary Ombudsman Ann Abraham says the Gov-ernment’s response to her July 2008 report on Equitable Life was “deeply disappointing” and provided insufficient support for the rejection of her findings of maladministration and injustice.
After a three-year underweight to banks, John Bennett at Gam is beginning to buy back into the sector on his two European equity vehicles. The manager of the Gam Star Continental European Equity and Gam Star European Equity funds says banks will not be allowed to go bust, but will be bailed out by their […]
Kam Tugnait is joining Gartmore as head of high yield with responsibility for the High Yield Corporate Bond fund. He will run the £130.7m fund with Simon Surtees, although the group has not yet decided who will be the named lead manager. Surtees previously managed the fund with Karl Bergqwist, the co-head of the fixed […]
After a surge of investment in the fourth quarter of 2008, net sales of tracker funds fell in the first quarter of 2009, according to quarterly statistics from the Investment Management Association.Retail sales of tracker funds in the first quarter saw an outflow of £31.7m, compared with an inflow of £279.4m in the fourth quarter […]
By Kim Jarvis, technical manager with Canada Life’s ican Technical Services Team In this article we look at the main exemptions and reliefs that are available on death. Within the article, spouse also means civil partner. Nil-rate band Under current rules, any part of the estate that falls within the available nil-rate band (NRB), […]
The Personal Investment Management and Financial Advice Association has published an updated version of its Mifid II feedback template and guide. Both documents jointly authored with the Tax Incentivised Savings Association were originally issued for industry comment in June 2018. The updated template and guide reflect the feedback received from Pimfa’s product governance and template testing working groups. […]
Legal and General Assurance Society has apologised to a client for making repeated mistakes in the information it gave about the amount of tax free cash he could take. In a ruling from The Financial Ombudsman Service, Mr M complains L&G’s errors resulted in the need for him to return funds and caused him “significant trouble” and […]
New FCA findings suggest advisers should prepare for significantly higher FSCS contributions at least Like many adults in the latter half of their lives, my pecuniary affairs are complicated. Not only do I earn a living from multiple employers but my future retirement income is dependent on several sources of funding, which includes three separate […]