Investment Adviser articles from October 2002

Investment Adviser archives from October 2002

French link bonds to eurozone inflation.(government bonds)(Brief Article)
October 7, 2002... The French government has launched bonds linked to the eurozone inflation rate. The issue is expected to be popular with international bond fund managers. Richard Stevens, head of government bonds for Isis, said there had been a...

Close Bros Isa targets UK property investors; Income-generating Isa will feature strong industrial bias, targeting capital growth.(Brief Article)
October 7, 2002... By Sam Dunn CLOSE Brothers Investment is to launch an income-generating Isa investing in commercial property across the UK. Actively managed by Peter Roscrow, it will carry gearing, feature a strong industrial bias and also target...

Investors err on the side of caution.(Brief Article)(Statistical Data Included)
October 7, 2002... By Simoney Girard Caution rules as 72 per cent of IFA clients demand protected and cautious products, according to Axa. IFAs are seeing a rise in demand for structured and capital protected products as markets continue to fall. ...

Appointments.(Bridgewell Securities hires John Dean, Henderson Global Investors hires David Courtney)(Brief Article)
October 7, 2002... Bridgewell Securities has appointed John Dean as engineering sector equity research analyst. Mr Dean joins from UBS Warburg, where he was global co-ordinator of Energy Technology Research. He previously led the small and mid-cap engineering...

Diary.
October 7, 2002... Riding high with Henderson The guys at Henderson had a "whale of a time" at their last corporate entertainment event, according to Iain Evans, unit trust sales manager at the fund management house. Members of the investment sales team...

Managers see value in South African equities; Dividend yield for some South African shares now approaching 4.2 per cent.(Brief Article)(Statistical Data Included)
October 7, 2002... By Dan Bloch CHEAP valuations make South African investments more attractive than two years ago, according to fund managers. Investors shunned South Africa form 1999 to 2000 on concerns over Aids, sluggish growth of about 2.5 per cent...

SLI moves to scotch property bubble fears.(investor relations for Standard Life Investments)(Brief Article)(Statistical Data Included)
October 7, 2002... COMMERCIAL property is still a good investment, according to Standard Life Investments. The company is anxious to reassure investors that commercial property is an attractive opportunity. At the peak of its last cycle in late 1980s,...

SVM UK Opps cuts down exposure to house builders.(SVM UK Opportunities fund takes money out of home buildres)(Brief Article)(Statistical Data Included)
October 7, 2002... The SVM UK Opportunities fund is taking money out of house builders, who have had a "fairly good run". David Stevenson, manager of the SVM UK Opportunities fund, said he had trimmed exposure in stocks such as house builder Persimmon. "We...

Shares valuations start to shine.(Brief Article)
October 7, 2002... THE potential for war in Iraq and a cut back in analysts forecasts have pushed valuations to far more attractive levels. Ian McLeish, fund manager of Scottish Investment Trust, said in recent weeks economists have reduced their expectations...

Gam fund bets on tech shares; Gam Star American Focus fund buys more cyclical stocks.
October 7, 2002... By ASHUTOSH KUMAR IN A "brave move", the Gam Star American Focus fund is increasing its focus on technology and cyclical stocks. The fund has also reversed its bias away from consumer staples and other stocks that are prime...

British millionaires lose GBP45bn in past 6 months.(Brief Article)(Statistical Data Included)
October 7, 2002... BRITISH millionaires lost nearly GBP45bn in equities in the past six months, according to Tulip Financial Research. The wealth research specialists conclusion was based on a sample of 202 British millionaires interviewed from 5-17 August....

VCT market in the doldrums; Poor equity returns signal a lack of launches this season.(venture capital company forecasts)
October 7, 2002... By Sam Dunn VENTURE capital trust C-share issues have marked the start of what is expected to be a poor VCT season. The absence of new VCTs reflects the paucity of capital gains made from equity markets in the past 12 months. IFA...

Only two-fifths of adults in UK are saving survey.(Brief Article)(Statistical Data Included)
October 7, 2002... ONLY two fifths of adults in the UK are saving regularly, according to Abbey National research. Furthermore, Isa investors in the UK are losing GBP300m worth of tax-free interest, according to Inland Revenue figures. Half of all the 9m...

New Bristol & West income bond.(Global Income and Growth Bond seven-year investment product)(Brief Article)
October 7, 2002... BRISTOL & WEST has unveiled its Global Income and Growth Bond seven-year investment product. Investors can place up to 50 per cent of the sum invested in the fixed income element of the product the Income Bond. Investors get a monthly...

HSBC to launch funds of funds.(HSBC Bank)(Brief Article)
October 7, 2002... HSBC Bank is expected to launch three funds of funds after Christmas. Malcolm Prince, senior investment manager, said the funds will be sold through HSBCs financial planning network in its branches. No decision has yet been taken to...

Investors desert European funds; Europe ex-UK records net outflow of GBP61.9m in August.(except United Kingdom)(Brief Article)(Statistical Data Included)
October 7, 2002... By Simon Falush INVESTORS have been fleeing European equity funds. IMA figures show a net outflow of GBP61.9m from Europe excluding UK funds for the month of August, leaving gross sales at GBP158.8m for the month. This marks a...

Government bonds are dinosaurs of investment.(warns ISIS Asset Management)(Brief Article)(Statistical Data Included)
October 7, 2002... ISIS Asset Management has warned investors to avoid gilts, claiming they are a "dinosaur" of the investment world. Robert Talbut, chief investment officer at Isis, wrote in an Isis update, When Dinosaurs Ruled the Earth, that government...

Aberdeen is bottom of equity income sector over five years; Exeter High Income fund and Lincoln Income fund runners up in the underperfomance stakes.(Brief Article)
October 7, 2002... By Ashutosh Kumar THE Aberdeen Fund of Investment Trusts has emerged as the worst-performing equity income fund in the UK. Aberdeens name emerged following a review of the UK Equity Income sector over five years by IFA Hargreaves...

Smaller fund houses fare better in profit stakes.(Brief Article)
October 7, 2002... THE UKs larger fund managers are in a struggle for "sustainable profitability", according to accountant PricewaterhouseCoopers. Its 2002 survey of investment management found the "heavyweights of the fund management industry are on the...

Britannic ups share holdings, sheds bonds.(Brief Article)
October 7, 2002... Britannic Asset Management trimmed its bond exposure in favour of equities during August 2002. The groups exposure to bonds is now 15 per cent. Equities are 80 per cent and the balance is in property and cash. Graeme Johnston,...

Freebies dangled to lure jittery investors.(Premier Asset Management, IFA Millfield Partnership)(Brief Article)(Statistical Data Included)
October 7, 2002... PREMIER Asset Management and IFA Millfield Partnership are offering discounts on the high street to tempt nervous investors. The Shareholder Perks Guide 2002 from Premier and Millfield details perks from 76 companies. Most of the...

Compulsory Isa lock-in laws ditched.(individual savings accounts)(Brief Article)
October 7, 2002... COMPULSORY lock-ins for investors on certain Isas are no longer enforceable under amendments to the Isa rules. The amendments will give investors greater flexibility to withdraw or transfer money, as well as ensuring compliance costs will...

Call for control of buy, sell recommendations; AIMR drafts guidelines over concerns about analysts share recommendations.(Association for Investment Management and Research looks for new guidelines)
October 7, 2002... By Simon Falush Analysts recommending the buying and selling of shares should be subject to new guidelines to ensure probity. This is according to the Association for Investment Management and Research, which has issued proposals to...

Bonds looking riskier than equities, says BAM.(Brief Article)
October 7, 2002... BARING Asset Management has said bonds were starting to look risky relative to equities. Michael Hughes, chief investment officer, said the investment environment now favoured higher alpha funds and that government bond yields are at...

Currie trust to cover larger companies.(Martin Currie Enhanced Income able to invest in larger companies)(Brief Article)
October 7, 2002... The Martin Currie Enhanced Income trust has widened its remit to cover a larger universe of companies. The investment trust, which was set up three years ago and invested heavily in split capital investment trusts, has been granted...

Christows multi-manager portfolio service offers ETFs; Christows new portfolio service aimed at growing market of people with GBP25,000 plus to invest.(new services)
October 7, 2002... By Simoney Girard Christows will be using a high proportion of exchange-traded funds in its new multi-manager portfolio service. The Christows portfolio service is aimed at the growing mass affluent market. It offers five core...

S&P data available on web platform.(Brief Article)
October 7, 2002... Standard & Poors has made its complete range of data and analytics available across one integrated web platform. The platform integrates 10 existing marketing sites and has a host of new features. Users can access and view data...

L&G offers portfolio wrapper for trackers.(Brief Article)
October 7, 2002... Legal & General has launched a portfolio wrapper in which it will sell its index trackers and corporate bond fund. The Select Isa allows investment across four L&G vehicles; the UK Index, the US Index, the European Index and the Fixed...

Wind-up package for Jos Holdings investors.(Brief Article)
October 7, 2002... Investors in Jos Holdings, a split cap investment trust, have been offered a wind-up package. The first option available to investors will be to roll over some or all of their investment into the existing British Portfolio trust, giving an...

Regulator burdened with reviews.(Brief Article)
October 7, 2002... THE FSA is being burdened with too many reviews and reports, according to the Association of Private Client Investment Managers and Stockbrokers. Angela Knight, chief executive of the trade body, voiced her concerns while addressing...

S&P awards ratings to four new Insight funds.(Standard and Poors)(Brief Article)
October 7, 2002... FOUR of the new funds launched last week by Insight Investment have been rated by Standard & Poors. Insight, the asset manager of HBOS, has launched nine funds in a move to establish itself as a leading player in the UK retail market. ...

Split cap committee to ease sector woes; Fund managers meet to discuss idea of split cap investors hardship fund.(Brief Article)
October 7, 2002... By Sam Dunn A newly-formed committee of split cap fund providers is to meet regularly to try to ease sector woes. Last week, senior executives from Aberdeen Asset Managers, BFS, Govett and Framlington mooted a split cap investors...

Gartmore Global Focus locks in gains.(Brief Article)
October 7, 2002... The Gartmore Global Focus fund moved closer to a neutral weighting to lock in its gains in September. Neil Rogan, fund manager, said the decision was taken because of fears of an upturn in the markets. He said: "I have been successful...

Britannic pours GBP14m into poor performer; Britannic Balanced Growth and Higher Yield funds invest in Smaller Cos fund.(Britannic Asset Managements)(Brief Article)
October 7, 2002... By Ashutosh Kumar TWO of Britannic Asset Managements UK funds have invested in an underperforming internal fund. The underperforming fund, Britannic Smaller Companies, is a top 10 holdings in the Britannic Balanced Growth and the...

JPMorgan gives James Elliot more funds to run.(JPMorgan Fleming)(Brief Article)
October 7, 2002... THE manager of JPMorgan Flemings Pan-European fund will have his responsibilities increased six-fold. This follows reshuffles on the European desk. James Elliot, manager of the Pan-European Sicav has become head of European retail...

Dexias fund days of wine and roses.(Dexia Asset Management wine fund)(Brief Article)
October 7, 2002... DEXIA Asset Management, the Geneva-based investment house, has launched a wine fund. Appealing to clients with, perhaps, a more discerning palate, the Global Wine fund invests in wine industry companies around the world. One such...

Invesco lays off two managers.(Invesco Perpetual lays off Richard Beggs, Steve Chamberlain)(Brief Article)
October 7, 2002... INVESCO Perpetual is the latest house to swoop on its UK and US managers in a month of industry-wide culling. The asset manager has cut two UK retail fund managers, Richard Beggs, manager of the International Growth fund and joint manager...

Multi manager for 1 per cent world from Canada; Canada Life launches select investment bond and manager of managers service.(Brief Article)
October 7, 2002... by Simoney Girard Canada Life has launched a two new products: the Select Investment Bond and a manager of managers service. The Select Investment Bond will complete Canada Lifes onshore range of wealth management solutions for IFAs,...

Customers appreciate honesty.(effect of economy on investments)(Brief Article)
October 7, 2002... investors have welcomed manager letters explaining how the slump might continue to affect investments. Barclays Global Investors has written to investors in its BGI endowment fund III about the companys "depressed" share price and the...

Warning over structure of guaranteed products.(Brief Article)
October 7, 2002... Misys has warned 7000 IFAs to tread carefully before recommending guaranteed products with "cliquet" structures. The structure is becoming increasingly commonplace, Misys said. It splits the investment period into segments (for example,...

Government could extend baby bond.(Brief Article)(Statistical Data Included)
October 7, 2002... TREASURY Minister Ruth Kelly is considering extending the Child Trust fund to allow all providers to offer them. At a fringe meeting at the Labour Conference in Blackpool, Ms Kelly said the finer points of the tax-free savings account,...

Liontrust unveils offshore subfunds.(Brief Article)
October 7, 2002... Boutique Liontrust Asset Management will add three subfunds to its offshore fund range next month. The new subfunds will be the Active 350, which will invest in the onshore GBP30m First Large Cap fund; the Dynamic Income, which will buy...

Top performing Korea funds hit by bad loans; High returning Korean funds over 12 months now hit by global growth woes.(Brief Article)
October 7, 2002... by SAM DUNN ECONOMIC anxieties in Korea have stymied surging growth in many specialist UK funds investing in the country. After a year of stellar performance, investments in three leading unit trusts have slumped by at least 10 per...

Investec to issue covered warrants from Ireland.(Brief Article)
October 7, 2002... LONDON-based Investec Bank has pipped rivals to the post by issuing covered warrants on the Irish Stock Exchange. Investec decided against issuing on the London Stock Exchange, in favour of the ISE, having been put off the LSE by a series...

Zurich to warn IFAs of price war.(Brief Article)
October 7, 2002... by james mawson ZURICH Financial Services will warn of a potential IFA price war at next weeks Financial Adviser Expo 2002. Simon Chamberlain, national recruitment director at Zurich, will present a seminar entitled Is Multi-Tied the...

Zurich offers multi manager portfolios; Zurich network teams up with 7im to launch manager of manager service.(Brief Article)(Statistical Data Included)
October 7, 2002... EXCLUSIVE By Ashutosh Kumar ZURICH Advice Network and Seven Investment Management have launched a multi-manager service. The service, also offers access to single-managed Threadneedle funds. Apart from regular unit trust...

1500+ IFAs enlist for Expo 2002.
October 7, 2002... MORE than 1500 IFAs have signed up for the Financial Adviser Expo 2002. The industrys number one event begins with keynote addresses from some of its leading lights. Dewi John, editor of Investment Adviser, will chair a series of...

Managers clash on Wal-Mart.(Brief Article)
October 7, 2002... By Sam Dunn FAVOURED companies such as Wal-Mart are pitting US manager Gil Knight against rivals who say mega shares destabilise markets. The clash of fund manager views comes as the worlds biggest retailer bears a price to earnings...

It takes all sorts of specialists; UK investors have yet to develop a taste for funds in the Specialist sector, says Helen Delaney.(Brief Article)
October 7, 2002... The Specialist sector is the most diverse IMA fund sector. It contains unit trusts and Oeic sub-funds with completely different focuses. These include funds investing in a single region, such as the GBP10.8m JPMF New Europe fund or those...

Ups and downs of specialists.(fund investing)(Brief Article)(Statistical Data Included)
October 7, 2002... The Specialist sector contains funds with a single country (expect the UK, the US or Japan) or a single sector theme. In May 2001, the Investment Management Association changed its sector classifications and funds investing at least 80 per...

Jupiter Financial Opportunities Fund: Emphasis on selling and stock picks wins.(Brief Article)
October 7, 2002... The Jupiter Financial Opportunities fund has been managed by Phillip Gibbs since its launch in 1997. There are no other personnel that work solely on this fund. It aims to achieve long-term capital growth through investing in financial...

Jupiter Financial Opportunities Fund: Manager Comment; Phillip Gibbs.(Brief Article)
October 7, 2002... The performance within the specialist sector will always be volatile as there is so much variation and many differences between the funds within this sector. One of the key things for me is that I look at the benchmark, the FTSE Financials...

A mixed fund bag; Ayse Ferliel.(Brief Article)
October 7, 2002... The world markets went into a tailspin earlier this month and the losing trend is expected to continue after the worst quarter for the S&P 500 index and the Dow Jones Industrial index in 15 years. Against this background it is difficult to...

DEWHIRSTS VIEW: M&G Basics fund looks good; Nick Dewhirst.(Brief Article)
October 7, 2002... The Specialist Funds sector is for investors who want to place bets themselves. It carries the greatest rewards, but also the greatest risks as specialist funds are for switching. Sectors go in and out of fashion, so the usual...

FT fund ratings: SPECIALIST.(Brief Article)
October 7, 2002... Investment Advisers Fund Ratings service provides detailed RCP (Risk, Charge, Performance Ratings on authorised UK unit trusts, investment trusts and Oeics). We show Risk, Charge and Performance ratings where available for all funds. Where no...

Diversified holdings the key to New Star fund; High Yield Bond fund aims to provide a headline yield of 7% with a potential for growth.(corporate bonds)(Brief Article)
October 7, 2002... Shaista Ahmed With global equity markets gripped by volatility and uncertainty, investors are looking to bonds for some respite. But the recent rush to government bonds has prompted some to suggest they may have reached their peak and...

2002 calendar.
October 7, 2002... SEPTEMBER Funds launched HSBC Republic Investments HSBC Republic Investments, private banking arm of HSBC, launched a capital guaranteed fund of hedge funds, the HSBC Republic Alternative Wealth Protector. Schroder ...

A year ago this month...Tough times take toll on Solus fund.(Solus US Select Opportunities fund)(Brief Article)
October 7, 2002... By Shaista Ahmed The GBP2.67m Solus US Select Opportunities fund was launched on 21 October 2001. The fund is managed by Chris Berteisen, who is based in the US. The fund was launched in the aftermath of the 11 September terrorist...

Technology takeover fails to materialise; Technology has not reduced the role of IFAs but highlighted the value of face-to-face advice.(Brief Article)(Statistical Data Included)
October 7, 2002... Shaista Ahmed The supposed threat of technology to the financial advisers has never materialised. These days, the question is how technology is being used by IFAs and whether or not face-to-face advice has changed. Fund supermarkets...

The industry needs you; As the IFA industry continues to suffer from an image problem, how can firms attract new recruits?(Brief Article)
October 7, 2002... HELEN DELANEY For many people, the term IFA conjures up images of a suited grey haired gentleman. As the average age of the IFA has hit 50 and the industry continues to be dominated by men, this image appears to convey reality. In...

Time is ticking away on savings; The ideal of people taking a more active role in their financial planning has been sacrificed on the altar of spending more on public services than we raise in taxes.(Brief Article)
October 7, 2002... Andrew Watson There are a number of factors that have combined to set a pensions time bomb ticking under the government. This latter-day Guy Fawkes consists of the imminent retirement of the post-war baby-boomers, increased longevity...

Banana republic blues; Observers could be forgiven for mistaking the once proud US as the worlds largest emerging market.
October 7, 2002... Richard Boardman The US stock market is exhibiting many of the characteristics we have come to associate with emerging markets. For one thing, it is wracked by concerns over endemic corruption. US authorities have been quick to offer...

Cash funds blossom; With equity markets suffering, cash funds appear to be a fairly sunny alternative during these dark days.
October 7, 2002... Bruce McWilliams Money market funds, otherwise known as cash or liquidity funds, are cocking a snoot at equity funds these days. For so many years, low-yielding cash funds were forced to take a back seat to tech-injected equity funds....

How to win clients and influence people; A positive profile and perception are essential for building IFA business.(Brief Article)
October 7, 2002... Charles Ansdell It may be a cliche, but is no less valid for it: opinions are formed within minutes of meeting someone, if not sooner. The way that people present themselves, the clothes they wear, the strength of handshake all send...

Seminar programme; The Financial Adviser Expo 2002 seminar programme will address recent and proposed changes to legislation and industry practices. It will provide a forum where speakers and advisers can lead discussions on the future of the financial servises industry.
October 7, 2002... 9:30-10:00 Key Note Address: Our New Industry The Way Forward Track One Practice Management Distribution Models of the Future 9:30 10:15 Straight-Through Processing in the IFA market Miriam Leach, The Exchange How do...

Meet the Expo speakers; Investment industry professionals to speak at Financial Adviser Expo 2002.(Statistical Data Included)
October 7, 2002... Simon Chamberlain, national recruitment director of Zurich Financial Services Simon joined the industry in 1989 after graduating from the University of Central England in politics and economics. He was in the top 1 per cent of his first...

The story on corporate bonds may not be over; Old Mutual Corporate Bond fund.
October 7, 2002... Mark Dampier, Head of Research, Hargreaves Lansdown While global equities continue to suffer, the main asset class to benefit from this pain has been government and corporate bonds. In early July War Loan, the most volatile of government...

Say goodbye to investment bank analysts; Increasingly, analysts will work for institutions and will see no need to publicise their views.(Brief Article)(Statistical Data Included)
October 7, 2002... Philip Coggan, Investment Editor, Financial Times It looks as if the days of the investment bank analyst may be numbered. Following high-profile scandals in the US, some banks are now talking about spinning off their analysis arms The...

An idea whose time has come.
October 7, 2002... Multi-management offerings have met with a measure of distrust among the adviser community. Opacity and higher charges have meant that many IFAs have wanted to keep them at arms length, preferring instead to have a more hands-on approach to...

Reading the form to back a winner.(Brief Article)
October 7, 2002... Andrew Merricks The annual skirmish with the bookies over the summer months reached its conclusion with the Prix de lArc de Triomphe. Ive long been fascinated by the similarities that exist between the sport of kings and the fund...

Managers on the move; High profile manager transfers will continue to keep investment advisers on their toes.(Brief Article)
October 7, 2002... Bambos Hambi Like footballers in Fifas transfer window, last month saw another raft of fund managers on the move. The UK Fund Industry Review and Directory, which chronicles such moves, showed 2001 to have been the busiest year yet and...

Flexibility is the key; GIL KNIGHT, manager of Govett US Opportunities, speaks to SAM DUNN about the importance of being flexible and knowing when to cut your losses.(Interview)
October 7, 2002... Investment Adviser: What current stock strategy are you employing in what is probably the toughest market in the world right now? Gil Knight: Well, the main answer is that we cut our losses when the stock goes down we are very flexible. ...

Green funds can be good for your yield; A European study says there is a positive link between socially responsible investing and portfolio performance.(Brief Article)
October 7, 2002... JAMES MAWSON New research has tried to prove that socially responsible investments can lead to a better performing share portfolio. Banque Sarasin in Switzerland has contributed to a research project commissioned by the German...

UK dominates Europe in SRI.(Brief Article)(Statistical Data Included)
October 7, 2002... The UK socially responsible investment industry is expanding. The UK industry is the most developed SRI market in Europe, according to research by investment bank WestLB Panmure. As at August 2001 there was GBP4bn invested in 60 SRI funds...

Offshore funds could enjoy flexible tax relief; Tax changes could lead to more flexibility for offshore funds investing in US.(Brief Article)
October 7, 2002... By James Mawson Offshore funds investing in US securities could have more flexibility in deciding how to claim tax relief. The US tax office, the Internal Revenue Service, put in place a new tax system at the start of 2001, which could...

Rathbone takes over Oaktree.(Rathbone Investment Management, Oaktree Investment Management)(Brief Article)(Statistical Data Included)
October 7, 2002... Rathbone Investment Management has acquired Oaktree Investment Management to reach the offshore private client market. The manager is aiming to expand its discretionary portfolio management services to the private client market in Jersey...

Life firm London Pacific closes to new business.(London Pacific Life and Annuity Co.)(Brief Article)(Statistical Data Included)
October 7, 2002... Jersey-based life company London Pacific Assurance has closed to new business. Brian Lee, chief executive of London Pacific, said the decision was taken after the falling bond and equity markets took their toll on business. He said...

Trade associations in merger talks.(Federation Europeenne des Fonds et Societes d'Investissement, European Asset Management Association)(Brief Article)
October 7, 2002... Merger talks are underway between European investment firms two largest trade associations. The merger talks are between Federation Europeenne des Fonds et Societes dInvestissement (Fefsi), which represents national investment firms trade...

OFFSHORE FUNDS; TOP 10 OVER THREE YEARS.
October 7, 2002... Top 10 funds by sector, figures up to 23 September 2002, sell to sell, gross income reinvested

PENSION FUNDS; Top 10 PENSIONS OVER 10 years.
October 7, 2002... Top 10 pension funds by sector, figures up to 30 September 2002, buy to sell, gross income reinvested

FSA calls on industry to be more transparent; Regulator proposes to reform calculation and reporting of solvency margins.(Financial Services Authority)(Brief Article)(Statistical Data Included)
October 7, 2002... By Sam Dunn THE FSA has called for insurers and pensions providers to adopt a more open approach with consumers and the regulator. The regulator published The Future Regulation of Insurance progress report last week outlining its...

Treasury fails to soothe fears over lump sum tax.(pension funds, United Kingdom)(Brief Article)
October 7, 2002... THE Treasury has failed to reassure the pensions industry after rumours about scrapping the tax-free lump sum. The National Association of Pension Funds last week wrote to Ruth Kelly, financial secretary to the Treasury, seeking...

Bleak future for retired, says survey.(survey on pensions and retirement planning)(Brief Article)(Statistical Data Included)
October 7, 2002... SCAREMONGERING in the pensions market has worked, according to a report by Comdirect. The stockbrokers survey found statistics that point to a bleak future for generations of retired people. One in 10 people believe it is not worth...

Equitable to offer compensation.(Equitable Life Assurance Society, compensation to former policyholders)(Brief Article)(Statistical Data Included)
October 7, 2002... EQUITABLE Life is to launch a scheme to compensate former policyholders who lost money on their pension. An independent report from B&W Deloitte confirmed that many former policyholders lost money as a result of the guaranteed annuity rate...