News

Cofunds has reported an annual profit fall of 15% for 2012, despite increasing turnover and assets under administration (AUA).

The trade union which represents Aegon staff has branded the life company's move to cut 160 roles as "devastating".

The Financial Conduct Authority has secured agreements from banks to introduce a payment retry system, which could save consumers £200m a year in late payments.

The key risk to investors right now is to follow the "doomsayers" who are preaching that it is time to get out of the equity market, according to Investec multi-asset portfolio manager and strategist Max King.

UK funds blossomed in May as, despite UK sectors seeing outflows, four were placed in the top 20 overall selling funds, according to figures from platform Cofunds.

The asset management industry must regain consumers' trust and boost pension saving or risk a financial crisis even worse than the 2008 crash, the Investment Management Association (IMA) has said.

Providers must police employer pension contributions into auto-enrolment schemes but The Pensions Regulator (TPR) has relaxed its position on how missed payments are reported.

Having spent time in the "economic and stockmarket wilderness", India is worth a second look according to the managers of J.P. Morgan's Luxembourg-registered India fund.

Well-known economist Roger Bootle stands to make tens of millions of pounds from the potential sale of his consultancy Capital Economics, in a deal which could value the group at £50m-£70m, according to reports.

Advisers are well placed to pick up new business driven by regulatory changes to the pension system, which could also result in a boom in estate planning specialists, according to Standard Life.