Bullish Barings MA team upgrades equities view
Barings’ Multi Asset Group has upgraded equities to “preferred”, amid encouraging signs of US growth.
Regions
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Zurich urges UK advisers to speak up on long-stop rule
Financial advisers need to ensure they have their say on the UK complaints long-stop proposal to help shape what the legislation could look like, said Zurich’s head of retail platform strategy.
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Billions withdrawn under UK pension freedoms, but common sense prevails
More than half of the funds being invested under the new pension freedoms have been invested in income drawdown products, with the remainder buying annuities, reports the Association of British Insurers (ABI).
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Qatar Fund details tender offer ahead of vote
Isle of Man-based Qatar Investment Fund (QIF), which invests largely in Qatari-listed stocks, has announced details of its planned tender offer ahead of a discontinuation vote at its annual general meeting on 12 November.
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OMGI UK Smaller Cos offshore fund loses Gold rating as Nickols steps down
Morningstar has placed the former Gold-rated Old Mutual UK Smaller Companies Focus fund under review following the announcement that manager Dan Nickols is to step down.
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Hong Kong brokerage fined $4m over investment sales failures
The Asia arm of Okasan International has been fined $4m after failing to ensure investment products were suitable for clients.
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Mergers favoured as half of UK funds close in 10 years
Just under half (48%) of all UK domiciled funds that were active on 30 September 2005 are now closed, according to Lipper, a Thomson Reuters company.
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Singapore reviews onus of IFA conduct over insurance sales
Singapore’s financial regulator is examining whether advisers or life companies are responsible for the training, competency and conduct of intermediaries selling insurance.
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HSBC results hit by Asia market falls
HSBC has reported a 14% drop in profits for the third quarter of 2015 after adjusting for foreign currency movements, as the sharp falls in stock markets across Asia hit revenues in its retail banking and wealth management division.
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Market volatility weighs on DBS’s wealth management division
Net fee and commission income from DBS Group Holdings’ wealth management division fell by 4% during the third quarter, compared with the same quarter last year.
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Unicorn launches IHT portfolio service
Unicorn Asset Management and WM Capital Management have launched an Inheritance Tax Portfolio Service.
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Hansard hires Michael Wrigley to expand southeast Asia IFA business
Isle of Man-headquartered Hansard International has hired former Standard Life director Michael Wrigley as head of sales for southeast Asia.