Credit Suisse Asset Management is extending its 4% commission offer across its multi-manager fund of funds range until the end of the tax year, 5 April 2006. Advisers have the option to use all 4% as commission or offer a combination of discount and commission totalling 4%. The offer is available through Cofunds and FundsNetwork fund supermarkets.
Prudential International has re-designed its Prudence Portfolio Bond with the introduction of a range of features targeting the single premium international investment market. New additions include a new cash count facility; removal of mandatory 5% deposit in sterling deposit; flexible commission structures for advisers and removal of the capital redemption option for corporate investors. To further support advisers a new suite of marketing literature is available at www.pruadviser.co.uk.
Sesame, the UK provider of support services to over 8,000 advisers, has opened Lincoln's unit-linked whole of life product, Financial Foundations, as an approved provider of flexible whole of life cover on the groups' distribution platform. Financial Foundations is a non-qualifying, multi-benefit protection product, providing whole of life cover in one place under one wrapper. The product menu consists of life, critical illness, permanent disability, elderly care and income protection covers, as well as a waiver of premium.
Research conducted by FundsNetwork revealed that 59% of advisers are expecting improvements in their Isa business compared to last year. 82% of advisers expect Isa sales to improve across the industry as a whole, while 76% have noted an increased confidence towards Isas from their respective clients. Advisers viewed equity income as the most likely to get most client appeal with 76%. This was followed by property (59%) and multi-manager funds (57%).
Investec Asset Management has appointed Robert Hau to the new position of director of business development Europe to increase both institutional and mutual funds business on the continent. Hau, who has 17 years' experience in both asset management and the banking industry, joins the group from Bank of Ireland Asset Management where he was head of continental Europe. In his new role he will be responsible for both selling Investec products and services across Europe and developing Investec's business with local pension fund consultants.
Fidelity FundsNetwork has unveiled a series of improvements to its planning tool, Portfolio Planner. The changes are made in consultation with advisers as part of a phased development programme to accommodate adviser needs and preferences. The additions mean users can now create their own preferred fund panels and favoured fund lists, set up portfolios for use across multiple clients, change client risk profile definitions, customise the default asset allocation models, brand their own customised version of Portfolio Planner and build client plans involving both monthly contributions and withdrawals.
Old Mutual Asset Managers (UK) (Omam) is to boost its research team with the appointment of a further two analysts. JinHui Luo has joined from Barclays Global Investors, where he worked in currency management, and Xavier Gerard has re-joined from State Street Global Advisors, having worked at Omam two years ago, specialising in stock selection modelling. The appointments are the latest in Omam's drive to boost its qualitative strategies team, led by Eoin Murray.
Syndicate Asset Management (Sam) has appointed Michael Campbell-Birkett as group chief executive officer. Campbell-Birkett, who was previously CEO of Minster Trust, has over 20 years' experience developing banking and investment businesses in the UK, Europe and Asia.
Scottish Equitable and Scottish Equitable International have produced a set of education packs aimed at helping advisers calculate if their clients have an inheritance tax (IHT) liability. The packs, designed to make the IHT planning process simpler, consist of a series of stages that advisers can run through to establish if their clients have a potential IHT problem. The packs can then be used to develop a trust solution to meet the clients' circumstances.
Fidelity International has released details of the underlying funds within both its new equity income and special situations multi-manager funds. The special situations portfolio will invest in a concentrated portfolio of six funds from companies such as Artemis, Framlington and Schroders; while the equity income portfolio will invest in Artemis, Jupiter and Standard Life. Launched on 16 January 2006, the portfolios are run by the Fidelity multi-manager team, headed by Richard Skelt.
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First mentioned in Cridland Report