Wrap/platforms

Profits at Royal London fell by 25% in the first half of the year as a slow market hit new sales and low interest rates affected revenues from customers' policies.

AXA Elevate topped the Platforum's leaderboard for Q2 2012, with assets under administration (AUA) up 7% from £4bn to £4.3bn.

Insurer Zurich has reported a 7% increase in profits or the first half of the year.

Wraps are beating fund supermarkets in attracting new business despite Cofunds' jump to the top of the platform league tables, according to latest figures.

Discretionary fund manager Brooks Macdonald is to make its administration services available to adviser clients, following "significant demand".

Asset management boutique Newton, a subsidiary of BNY Mellon, is set to launch fully unbundled Retail Distribution Review (RDR)-ready share classes across its entire fund range in September.

CONDENSED

SECTOR REPORT

STRUC PRODS

FATCA