Money Management articles from June 2008

Money Management archives from June 2008

Multi-manager funds - a new dawn?
June 1, 2008... In spite of a disappointing performance in recent months, the multi-manager sector is witnessing renewed interest with new products and speculation surrounding fund consolidation, writes Joe McGrath The multi-manager sector has developed...

Lenders reduce risk exposure.
June 1, 2008... Byline: Gareth Shaw Yet more lenders reduce their maximum LTV as market contracts Barclay's is the latest in a long list of lenders to further cap its maximum loan to value (LTV) as the credit crunch takes an even bigger toll on the...

Pensioners must go to market.
June 1, 2008... Byline: Laverne Hadaway The annuity market looks set to take off as the baby boomer generation begins to enter retirement. Laverne Hadaway considers the issues around the open market option Annuity rates have hit a four year high...

Cautious managed survey.
June 1, 2008... Byline: Jo Dymock Cautious Managed funds may be the grey polyester suits of the investment world, but they do still have an important role to play in many investment portfolios. Jo Dymock takes a look at the performance of this sector ...

Lehman delists mortgage brands.
June 1, 2008... Byline: Joe McGrath US investment bank drops IMLA registrations EXCLUSIVE Lehman Brothers has asked its trade body to delist its remaining UK mortgage brands after its decision to suspend new lending, fuelling speculation of a...

A right old state.
June 1, 2008... Byline: Jo Dymock DWP argues against state pension criticism EXCLUSIVE: The Department for Work and Pensions (DWP) has denied criticism from a leading management consultancy that it deliberately tried to brush under the carpet problems...

Lender changes compliance strategy.
June 1, 2008... Byline: Joe McGrath Barclay's division quits standards body EXCLUSIVE Second mortgage standards body, the Finance Industry Standards Association (FISA) has lost one of its biggest lender members as Barclay's said that it no longer...

Polarisation mark II.
June 1, 2008... Byline: Janet Walford When polarisation was abandoned in mid 2005 it was justified by claims that it was anti competitive - tied advisers were able to offer the products of just one provider - and that consumers had failed to understand...

With profits review published.
June 1, 2008... Byline: Gareth Shaw Investec Asset Management has launched the second edition of its 'With profits review pack', which aims to guide advisers through what Mark James, Investec director of strategic alliances, calls "the complicated maze of...

Money for something.
June 1, 2008... Byline: Gareth Shaw FSA top executives say staff deserved GBP13.9m bonus despite catastrophic year The Financial Services Authority (FSA) has faced fresh criticism for delays in implementing changes in the way that it supervises the...

SIPPs threaten future of personal pensions.
June 1, 2008... Byline: Jo Dymock Personal pension providers need to respond to SIPPs competition Self invested personal pensions (SIPPs) could be a threat to the dominion of personal pensions if personal pension providers do not innovate, according...

With profits has a good future.
June 1, 2008... Byline: Janet Walford Norwich Union and Pru say plans attractive to investors EXCLUSIVE: While being quizzed about the distribution of inherited estates at the Treasury Select Committee meeting on 30 April 2008, the chief executives of...

A new horizon?
June 1, 2008... Byline: Gareth Shaw Aegon latest insurer to launch third way annuity Aegon Scottish Equitable has joined the swellings ranks of insurers offering alternative annuities by launching its new Income for Life product. The provider...

Statistics - June 2008.
June 1, 2008... Byline: Gareth Shaw Click on any of the links below to view this month's statistics in a PDF file UK Registered Investment FundsUK Registered Investment Funds Investment TrustsInvestment Trusts Insurance FundsInsurance Funds...

Taxing decision.
June 1, 2008... Byline: Jo Dymock In order to compensate those who are worse off following the abolition of the 10% tax band, the Government is increasing the personal allowance by GBP600 for the 2008/09 tax year only. In order to compensate those who...

Ray of hope.
June 1, 2008... Byline: Kylie Harrison Is protection the answer to adviser income woes? Adviser confidence is plummeting, but the income gap caused by falling mortgage procuration fees can be plugged with protection sales, according to Legal &...

New mortgages planned.
June 1, 2008... Byline: Joe McGrath Money Partners, the lender owned by investment bank Goldman Sachs, has announced that it will shortly release a new range of mortgage products, targeting the near prime market. Money Partners, the lender owned by...

David and Goliath.
June 1, 2008... Byline: Kylie Harrison Engage Mutual takes on big with profits players Engage Mutual is aiming to take on the leading life companies by moving its with profits fund on to a more active investment footing. Money Management's April...

Financial Planner of the Year 2008.
June 1, 2008... Byline: Gareth Shaw Enter now to win a share of GBP15,000 You can now download all 10 case studies to enter the 2008 Money Management Financial Planner of the Year Awards from our newly launched awards microsite. By visiting...

Elite leader appointed.
June 1, 2008... Winterthur has appointed a new head of investment distribution to manage relationships with investment houses and lead the provider's Tailored Selection and Elite range of funds. Winterthur has appointed a new head of investment...

Retirement risk.
June 1, 2008... Byline: Kylie Harrison HSBC has highlighted the need to diversify income and risk in retirement, rather than being too dependent on one source. HSBC has highlighted the need to diversify income and risk in retirement, rather than being...

Competing with cash.
June 1, 2008... Byline: Joe McGrath Provider hopes to cash in with eSIPP James Hay has launched a deposit account for cash in its eSIPP product offering 6.4% gross, fixed for one year, although this rate reverts to the default rate of 4.06% after a...

Expo line up confirmed.
June 1, 2008... First Minister Salmond heads Glasgow Expo speaker list Alex Salmond MSP has been announced as the keynote speaker for the Glasgow leg of this year's Financial Adviser Expo. At the London event, John McFall MP, chairman of the treasury...

Intelligent income.
June 1, 2008... Byline: Joe McGrath Legal & General has launched a new range of multi-manager funds, made available as unit trusts and wrapped life and pension funds. The range includes Growth, Income and Balanced Multi-manager products and is...

Two ways to skin a cat.
June 1, 2008... Byline: Jo Dymock New income funds use different approaches Invesco Perpetual and Credit Suisse have launched funds intended to provide investors with an income, although the funds work in different ways, with slightly different...

Opinion split over AMCs.
June 1, 2008... Byline: Gareth Shaw The Investment Management Association (IMA) has controversially backed an annual management charge (AMC) as the most simple form of financing personal accounts when they are introduced in 2012. The Investment...

The middle way - fuss about something?
June 1, 2008... The recent flurry of market entrants to the third way annuity market has shown that innovation is still possible in the at retirement sector. But with advisers confused and regulation limiting market development, is there any reason to get...

Mortgage spotlight - Brokers sit tight.
June 1, 2008... Byline: Laverne Hadaway The effect of the liquidity crisis on lenders and borrowers has been well documented. But what about mortgage advisers? Laverne Hadaway found out how they were faring As the credit crunch continues to bite into...

Improving your AIM.
June 1, 2008... Byline: Jo Dymock Noble Fund Managers has launched a new guide to the Alternative Investment Market (AIM), the sub market of the London Stock Exchange on which smaller companies are traded. The anatomy of AIM, which Noble hopes will...

Insurers tackle non disclosure.
June 1, 2008... Byline: Kylie Harrison Rejected critical illness claims are down Friends Provident has reduced the number of declined critical illness claims for non disclosure by a third, from 9.9% in 2006 to 6.5% in 2007. It is one of several...

Protection spotlight - Cinderella of protection products.
June 1, 2008... Byline: Helen Pridham As beautifully proportioned as it is, family income benefit rarely gets to the ball. With life offices encouraging IFAs to place a greater emphasis on protection, Helen Pridham tries the FIB glass slipper on for size...

Back on tracker.
June 1, 2008... Byline: Kylie Harrison Tracker funds have had a net inflow of GBP64.3m in the first quarter of 2008, ending a run of poor retail sales. There were six consecutive quarters of outflows over the past 18 months, ending with an outflow of...

Pensions spotlight - End of compulsory annuitisation.
June 1, 2008... Byline: John Chapman If Canadians can avoid compulsory annuitisation of tax-advantaged pension savings, why shouldn't the Brits, asks John Chapman? In its March 2008 paper 'Enabling choice for retirement' the Investment Management...

Ill wind blows fair.
June 1, 2008... Byline: Jo Dymock Retirees in ill health could benefit from with profits annuity LV= has contributed further to the growth of the enhanced annuities market with the launch of an enhanced with profits product. The product works...

Entrepreneurs' relief.
June 1, 2008... Byline: Nick Williams Business asset taper relief was abolished on 6 April 2008 and replaced with entrepreneurs' relief. Nick Williams of Clerical Medical explains how advisers should help clients plan their exit strategy to the last...

Dual pricing on mortgages.
June 1, 2008... Letters to the editor - June 2008 I was pleased to see your article headed as above (May 2008 issue) as this is an issue I have been picking up on over the past few weeks. The thing is that all of the lenders are doing this, not just...

Hunting for meaning.
June 1, 2008... Letters to the editor - June 2008 I quite agree with your comment in the May issue on the Hunt Report. Britain has also applauded itself as the ultimate bastion of fairness. Whereas other countries preach democracy and do something else we...

FSA at 20.
June 1, 2008... Letter of the month - June 2008 I read your article in the May issue with great interest. When the FSA was set up 20 years ago, one of its main remits was to look after consumers. I submit that it has signally failed at this task. ...

Lifetime allowance.
June 1, 2008... Letters to the editor - June 2008 Although little sympathy is given to the better off, there is nevertheless a principle at stake that people should not be left hanging in mid air (so to speak). For this fiscal year the current lifetime...

Northern crock.
June 1, 2008... Letters to the editor - June 2008 Ron Sandler was not the saviour of Lloyd's of London. A return to good, sound insurance practice was the saviour and benefactor of the insurance centrepiece. Sandler was responsible for stakeholder...

The AIFA 'manifesto for advice'.
June 1, 2008... Letters to the editor - June 2008 The AIFA 'Manifesto for advice' [published earlier this year] urges IFAs to place more emphasis on reducing their clients' debts and increasing their savings. I particularly relished the suggestion of...

Taking stock - lessons in lending.
June 1, 2008... Byline: Russell Taylor The Fed has acted to save a rerun of the 1930s, says former investment banker Russell Taylor, but that doesn't mean that investment will get any easier The financial services industry accounted for some 5-10% of...

RDR - the next step.
June 1, 2008... Byline: David Severn The FSA's reports on the RDR, capital resources and PII have far reaching consequences for IFAs. David Severn looks at the proposals and what they might mean The FSA has just published two documents of key interest...

At retirement fastest growing.
June 1, 2008... Byline: Mark Joannes The at retirement market is likely to be the fastest growing in the financial services sector over the next few years. Mark Joannes, senior consultant at Watson Wyatt, discusses the impact of this rapid growth on...

New year's resolution.
June 1, 2008... Byline: Gareth Shaw Consolidators account for over GBP100bn of assets with 9.3m policyholders. With the recent takeover of Resolution by Pearl, Gareth Shaw looks at what policyholders get out of the deal Policyholders that are not paid...

Cautious Managed sector.
June 1, 2008... Byline: Jo Dymock The IMA Cautious Managed sector is home to funds that aim to outperform cash while mitigating the volatility of equitities through some fixed interest and cash holdings. The sector is seen as something of a beginners'...

Top 100 unit trusts.
June 1, 2008... Byline: Geordie Clarke Despite turbulent stock markets, there are plenty of gains to be made if you know where to look. Latin America is one such place, finds Geordie Clarke A rough year in the markets has changed the face of the Top...

Super-natural fund.
June 1, 2008... Byline: Kylie Harrison Investec Asset Management has launched the first UK domiciled natural resources fund with UCITS III powers. Investec Asset Management has launched the first UK domiciled natural resources fund with UCITS III...

Right time, right bond fund.
June 1, 2008... Byline: Kylie Harrison Jupiter is launching a strategic bond fund with a target yield of 7%. Jupiter is launching a strategic bond fund with a target yield of 7%. The UK authorised unit trust, which is UCITS classified, is being...

Q&A.
June 1, 2008... Byline: Joe McGrath Laurence Boyle, head of Assetmaster - Williams de Broe. Laurence Boyle has been at Williams de Broe for 12 Al years and a fund manager for 21 years, most of those spent in multi-manager funds. He joined Williams de...

Haven or have not?
June 1, 2008... Byline: Kylie Harrison Offshore funds have the reputation of offering tax breaks that can enhance investments and savings. But have changes in the Budget and stricter regulation made them more or less attractive to UK investors? Kylie...

Goodwill hunting.
June 1, 2008... Lord Hunt's review on the workings of the FOS has brought strong reactions from the industry. Four years on from the last major review of the Financial Ombudsman Service (FOS) and the recommendations of the Kempson report appear to have...

Accumulating returns.
June 1, 2008... Byline: Christopher Traulsen Fund marketing materials typically cite cumulative returns when presenting performance over multi-year periods, but is this the best practice, when charges are expressed on an annual basis, asks Christopher...