Money market fund outflows continue in Europe
European-domiciled funds recorded net outflows of some 14bn in June, according to Lipper
Industry
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Prudential overestimated failed AIA bid cost
Prudential overestimated the cost of its failed bid to buy Asian insurance giant AIA.
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Aberdeen gains local Chinese investment licence
Aberdeen Asset Management has gained a licence allowing it to buy mainland China listed securities
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Axa Wealth Int’l increases sales by 36%
Isle of Man-based Axa Wealth International increased its sales by 36% during the first half of 2010.
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Regulatory shake-up in UK could be costly for consumers
Consumers may end up paying more for financial advice after the UK regulator implements the RDR.
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HMRC writing to 600 offshore account holders
HMRC is writing to 600 offshore account holders to determine how offshore accounts are marketed.
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Isle of Man begins drive for international employee benefits business
IoM Gov’t and financial sector have begun a drive to attract international employee benefit business
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Invesco launches Latin America fund
Invesco is launching a Luxembourg-domiciled Latin American Equity Fund.
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BlackBerrys get Saudi reprieve as India’s concerns emerge
Saudi Arabia is moving towards allowing the use of Blackberry devices as India expresses concerns.
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Pru Int’l and Gilliat join FEIFA
Pru Int’l and Gilliat have become the latest in a line of firms to join FEIFA.
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Accountants and their clients restless as NDO confirmations slow to materialise
UK accountants whose clients have filed NDO disclosures say they have received few confirmations.
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Kleinworts Nigel Strachan to head Jersey Funds Association
Kleinwort’s Nigel Strachan is to succeed Richard Thomas as chairman of the Jersey Funds Association.