Investment General
7IM's Justin Urquhart Stewart to step down from co-founder role
After almost two decades
Euro weakness threatens UK income giants
UK income funds face a new threat from the eurozone crisis if the pound continues to strengthen against the single currency, leading managers have said.
Prudential set to name chairman after five-month head hunt
Insurer Prudential is set to name Paul Manduca as its next chairman after a five-month search to replace Harvey McGrath, the Telegraph reports.
Don't forget the KIIDs
REGULATION
Allianz launches four risk-rated funds ahead of RDR
Allianz Global Investors has today launched a range of four risk-graded portfolios, the Allianz RiskMaster funds.
Using collectives in retirement planning
Andy Zanelli discusses the role collectives can play in retirement planning
Jelf Group IFA arm makes small loss; cuts adviser numbers
The financial planning arm of insurance consultants Jelf Group has reported a small loss for the six months to the end of March, as the company invests in preparing for the Retail Distribution Review (RDR).
Wells Capital acquires Reeves IM
Wells Capital has acquired fellow discretionary firm Reeves Investment Management in a deal which increases its assets under management by more than £50m.
Skandia opens up Spectrum Select to more advisers
Skandia Investment Group (SIG) has opened up its Spectrum Select client reporting service to more advisers.
Mattioli Woods secures DFM approval
Wealth manager and pensions consultancy Mattioli Woods is preparing for the launch of a discretionary portfolio management service after securing investment permissions from the FSA.
Mazars: 'FSCS will foot bill of almost all Merchant Capital customers'
Just 0.1% of Merchant Capital clients owed money by Pritchard Stockbrokers will not be covered by the Financial Services Compensation Scheme (FSCS), according to Pritchard's administrators Mazars.
UBS shareholders to challenge chiefs over $77m bonus pot
UBS shareholders including F&C are set to rebel against the Swiss bank's proposed pay packages for its top executives, echoing the moves taken by Barclays shareholders last week.
Advisers 'should review risk assessment practices'
Advisers should review the way they discuss risk with clients according to research which suggests many consumers do not have a proper awareness of the potential downside of their investments.
Lloyds makes extra £375m PPI claims provision
Lloyds Banking Group has set aside an extra £375m to cater for an influx of compensation claims related to the mis-selling of payment protection insurance (PPI).
Barclays shareholders set to vote against executives' pay
Some Barclays shareholders are expected to vote against the pay of its top executives at the bank's annual general meeting on Friday.
IMA backs HMRC's proposals for bulk ISA transfers
The Investment Management Association (IMA) has responded favourably to the bulk ISA transfer draft regulations released by HM Revenue & Customs (HMRC).
IFA beats 35,000 others to win fantasy fund manager comp
An adviser has won £20,000 after topping the J.P. Morgan Telegraph Fantasy Fund Manager competition.
SWIP's Clunie takes on Cockburn's funds
Peter Cockburn's £371m SWIP UK Select Growth and £124m UK Opportunities funds have been handed to James Clunie with immediate effect, as part of a shake-up at the firm which will see 23 investment roles culled.
Barclays revises Diamond's bonus after shareholder fury
Barclays has bowed to pressure from shareholders ahead of its AGM by putting a new clause into boss Bob Diamond's bonus package which could cut his payout in half.
Life settlement trade body attacks 'negative' FSA
The European Life Settlement Association (ELSA) has blamed the "sensationally negative" FSA for damaging the traded life policy sector (TLPI) sector.
NS&I savings certificates 'unlikely' to return this year
National Savings & Investments (NS&I) has announced it "does not expect" to reintroduce its popular Index-linked Savings Certificates in the current financial year.
QE and low base rate 'penalising' retirees, say MPs
The government's "loose" monetary policy of quantitative easing (QE) and low interest rates is diminshing retirees' income, a report by MPs concludes.
Warren Buffett diagnosed with cancer
Billionaire investor Warren Buffett has been diagnosed with prostate cancer.
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