UK buyers choosing global funds over domestic
Morningstar Investment Management says UK buyers are flocking to global equity funds as regionally diversified exposure proves more alluring than the beleaguered domestic market.
Middle East
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Guardian Wealth to pay £100k to settle Qatar liquidation
The Qatar International Court has ruled that Guardian Wealth Management Qatar is to pay its joint liquidators an additional £100,806.25 ($140,708, €115,163) in fees for work related to the company’s exit from the country.
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Six insights into what non-resident Indians want
What are the main concerns that non-resident Indians who live in the UAE have about their own financial planning needs and how can advisers help?
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PEOPLE MOVES: Tilney, Aviva, Brewin Dolphin
Tilney appoints a former Schroders chief financial officer to its board of directors, Aviva hires a head of global financial institutions and Brewin Dolphin makes several key changes to its Cardiff team.
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Guardian Wealth hit with $1m fine by Qatar regulator
The Qatar Financial Centre Regulatory Authority has imposed two fines plus costs on Guardian Wealth Management Qatar (in liquidation), a move the company suggests is in retaliation to its decision to cease operating in the country in 2015.
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Middle East clients dying younger warns Zurich
The average age of life insurance claimants in the Middle East is just 50, according to Zurich International Life’s yearly claims statistics.
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Dubai firm to offer diamond trading using blockchain
The private office of Sheikh Ahmed Bin Obaid Al Maktoum, a member of the ruling family of Dubai, has teamed up with Indian entrepreneur and property developer Amit Lakhanpal, to launch a joint venture which will offer diamond trading using Blockchain technology.
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Ex deVere duo launch ‘happy place’ for advisers
Former deVere duo Matt Dean and Chris Ball have founded their own financial adviser network, which they claim will make for happier advisers.
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UAE advisers made ‘scapegoats’ for offshore providers
A private equity firm says UAE financial advisers are “under fire” and being unfairly blamed for problems that stem from offshore providers offering limited investment products.
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Kuwait edges closer to controversial expat tax
Kuwaiti politicians are preparing to debate a polarising remittance tax for foreigners working in the country, after it was controversially endorsed by the parliament’s financial and economic affairs committee.
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Saudi Arabia emerging market upgrade creates opportunities
Saudi Arabia’s promotion from frontier to emerging market in FTSE Russell indices is an opportunity for short-term investors to take profits, while longer-term investors can take the announcement as confirmation the market is moving in the right direction.
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10 year jail sentence for record-breaking tax scam
A disgraced Australian businessman has been sentenced to 10 years in jail for his involvement in a A$135m (£74m, $103m, €84m) international tax avoidance scam, bringing an end to what has been described as the largest tax fraud case in the nation’s history.