Lifemark granted six more months to fix fund

IFAonline revealed in February the Investment Management Association (IMA) is leading efforts to shore up Lifemark, as part of a bid to recoup the fund management sector's £233m FSCS bill. The IMA is in talks with the FSCS to work out how money could be collected from the indsutry for a loan to be used to solve Lifemark's liquidity problems and enable the fund to return a profit, IFAonline understands. Fund managers are first in line for any return of their share of the £326m the FSCS levied the industry in February, mainly to cover the cost of Keydata's failure. Lifemark's stay of...