News

The Government of Bermuda has plans to promote the country as a western hub for the Islamic financial services industry.

La Française Asset Management (AM) has launched a Sharia compliant OPCI, which is a collective real estate vehicle offering simplified investment rules with leverage.

Fund groups are scrambling to develop risk-rated propositions ahead of the RDR deadline at the end of this year, with major houses including Jupiter planning how to enter the space.

Governor of the Bank of England, Sir Mervyn King, will signal on Wednesday that interest rates will remain around their record low until the end of next year at the earliest, the Daily Telegraph reports.

Investec Asset Management is the latest group to launch a range of clean share classes ahead of the year-end RDR deadline.

Former Aviva chief executive Andrew Moss demanded a 9.5% pay increase in the weeks before he quit after a shareholder revolt over remuneration.

Lloyds Banking Group and the Co-operative are set to agree terms on the sale of 632 of the bank's branches after submitting a revised proposal to the Financial Services Authority (FSA).

Research from our latest Adviser Barometer has told us that advisers are planning on making changes to their business model but many are still trying to decide what the best option for their business is.

LOSSES

Four major fund houses have joined forces with technology provider IFDS to white-label enhanced online propositions for their existing direct customers ahead of RDR.