Hansard International launches flexible commission bond
Hansard International has launched a bond offering a zero commission option for financial advisers recommending single premium products to clients.
Industry
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Morgan Stanley launches pair of ESG multi-asset funds
Morgan Stanley Investment Management has added the Global Balanced and Global Balanced Defensive funds to its line-up.
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M&A firm Phoenix to shut down Cayman holding company
Life company consolidator Phoenix Group plans to close its Cayman Islands holding company and set up a new operation in the UK.
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Rops harder to sell post-pension freedom, say providers
Sales of recognised overseas pension schemes (Rops) are taking a hit following the UK’s pension freedoms introduced last year, made worse by an FCA rule requiring British expats to seek regulated advice for defined-benefit pension transfers.
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PEOPLE MOVES: Old Mutual, Eastspring, BNP Paribas
Changes abound in Singapore with Old Mutual Global Investors creating a new managing director role, Eastspring Investments naming a new chief executive, and HSBC Bank appointing a head of retail banking and wealth management.
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UK rate cut to increase platform fees, says James Hay
IFG Group, the parent company of UK Sipp provider James Hay, has warned that the Bank of England’s (BoE) interest rate cut earlier this month could see platform charges rise.
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Schroders launches liquid alternatives Ucits fund
Schroders has launched an externally-managed Ucits fund, called the Schroder GAIA Two Sigma Diversified fund, which will combine US equity market-neutral and global macro strategies.
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Ex-Julius Baer ‘whistleblower’ cleared of secrecy law breaches
A former Julius Baer banker accused of passing sensitive data to WikiLeaks has been given a 14-month suspended sentence after a Zurich court turned down prosecution demands that Rudolf Elmer be convicted of breaching Swiss bank secrecy laws despite being based in the Cayman Islands, according to media reports.
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Quilter Cheviot plans active role in industry consolidation
Having Old Mutual as its parent provides London-headquartered discretionary fund manager Quilter Cheviot with a great deal of opportunity, said chief executive David Loudon, particularly when it comes to acquisitions.
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UK IFA ordered to pay client over Arch Cru pension transfer
UK-based IFA firm Tenet must compensate a client for advising him to transfer his pension into the doomed high-risk Arch Cru fund, which lost investors up to £361m ($462m, €408m).
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HMRC plans tougher penalties for offshore tax evaders
The UK tax office has announced plans to increase the penalties on anyone who has not paid outstanding taxes from offshore investments ahead of the start of a new data sharing agreement with the crown dependencies and territories in October.
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Lombard Odier funds added to Novia platforms
Lombard Odier Investment Management is making 17 of its mutual funds available through the Novia Financial and Novia Global platforms.