Several of the nationals took a look at the government's plans for Sandler products this morning, fo...
Several of the nationals took a look at the government's plans for Sandler products this morning, focusing on the possibility of moving the 1% price cap and encouraging people into what are basically balanced managed funds.
One comment in the Telegraph on the products, success rate, charge cap, etc suggests "double glazing is more likely to keep the cold out that a stakeholder pension". Definitely going to be a popular idea, then.
But there is more concern in the Scotsman of a potential challenge to Standard Life's mutual status as another carpet-bagging contender is drumming up support.
David Stonebanks from Stevenage in Hertfordshire has set up a website in his bid to collect the 1,000 signatures necessary to force a special resolution on demutualising the Edinburgh life and pensions giant.
Rule changes were made to SL's policy after the last attempt in 2000 to ensure such meetings could not be brought before July 2003.
However, Stonebanks believes that the recent bonus cuts and endowment shortfalls will drive the backing he needs.
When Fred Woollard last encouraged demutualisation, it cost Standard Life £10m to fight the campaign.
A fun story which catches the eye in the Times is news that an unnamed man working in the Finsbury Square area of the City has just won £600,000 after betting that the price of gold would climb steeply.
It did yesterday, from $350 when he placed the bet in January to $380, so he earned a profit of £20,000 for every dollar that the gold price climbed.
He sold half of his position yesterday to pick up that £600,000, but a further bet still stands worth an additional £600,000 in profit.
Punters in the Daily Telegraph say the gold price could still climb to £470 per ounce because of potential war with Iraq.
Investment trust directors are now facing the problems many IFAs face, and could find they cannot get liability insurance unless they are prepared to pay four times more than last year, adds the Telegraph.
It's thanks to the split-capital crisis which has yet to properly enter a mis-selling review, that premiums have jumped from £5-8,000 last year to between £15,000 and £20,000.
Some directors may not get that PI cover if the trust they operate is highly geared, because insurers are not prepared to take the chance they might have to pay large sums of compensation.
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