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William M Mercer ditches fund management plans

The investment consultancy giant says it may still offer multi-manager funds for small to medium pension funds in the future, although it is selling SuperFlex the “manager of managers” operation it acquired two years ago.

SuperFlex which is being sold to PSG Escher Investments would have formed the basis of Mercer&#39s move into fund management.

William M Mercer head of UK investments Andrew Kirton says: “Our strength and predilection is consultancy. It might be profitable to be in the pizza trade but that is not our business”.


Equitable Life launches pre-stakeholder plan

Equitable Life has launched its stakeholder-style pension which will include full financial advice.The Equitable 2000 personal pension plan offers a management charge of 0.9 per cent a year, just below stakeholder&#39s one per cent margin.The product will also feature no minimum contribution, no initial charge, penalty free exit and no penalties for stopping and starting […]

US company to enter UK investment trusts market

Amerindo Investment Advisors Inc has announced plans to launch an investment trust in the UK.The fund will be the fund manager&#39s first presence in this country and will hit the market by March 15 at the latest.A minimum investment of £1,000 will be required to buy into the trust which will be available to both […]

IFAP TV campaign aims to get phones ringing

IFA Promotion is embarking on an TV advertising campaign to generate leads for IFAs.IFAP hopes a series of commercials on digital and terrestrial channels will get IFAs&#39 phones ringing.The series of four advertisements will run throughout the month on digital channel ITV2 and regional ITV network channel Meridian.The direct response campaign is being run on […]

Halifax launches new mortgage range

Halifax is launching a range of fixed rate and discounted mortgages with no arrangement fees aimed at first-time buyers and remortgage customers.The range offers a two year discount of 2.05 per cent, giving a rate of 5.69 per cent on loans up to 75 per cent loan to value. A loan up to 97 per […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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