Failed IFAs liable for negligent ARM bond advice
Investors of ARM Asset Backed Securities are now able to make successful claims against failed independent financial advisers (IFAs) if it can be proven they gave negligent advice.
Luxembourg
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Allfunds names Sansone to head Luxembourg operations
Allfunds Bank has named Ugo Sansone, former Eurizon Capital head of international business development, to head its business in Luxembourg.
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JTC extends shopping spree with Signes deal
Fund services provider JTC had added to its growing acquisition list with the purchase of Luxembourg-based Signes.
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Nikko AM unveils Asia equity UCITS fund
Japan-based fund house Nikko Asset Management has launched a Luxembourg-domiciled Asia equity strategy for European investors as it continues to grow its range of UCITS funds.
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Soc Gen appoints new Luxembourg private banking chief
Societe Generale Private Banking (SGPB) has appointed a new head of Luxembourg as Jeanne Duvoux replaces Olivier Lecler.
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China Universal sets out European expansion plans
Shanghai-based China Universal Asset Management has established a Luxembourg SICAV from which it plans to launch a series of UCITS funds in the coming months to give European investors access to the Chinese capital market.
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VAM forms exclusive partnership with Close Brothers
Luxembourg-based VAM Funds has signed a deal with Close Brothers Asset Management (CBAM) to give its non-UK-based advisers the chance to tap into the latter’s discretionary fund management services.
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Aberdeen launches multi-asset income fund
Aberdeen Asset Management has launched a new multi-asset fund with the aim of achieving a high yield over the medium term in a low-rate environment.
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Value of funds under management in Ireland set to top €2trn
The net value of investment funds domiciled in Ireland is set to top €2trn (£1.45trn, $2.25trn) after a 14% rise of €234bn in the first quarter of 2015, Irish Funds Industry Association chief executive Pat Lardner said.
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Singapore adviser ring accused of pressuring rival out of market
Ten Singapore-based advisory firms have been issued a proposed infringement decision (PID) over claims they jointly pressured a fellow adviser to withdraw an offer for a 50% commission rebate on life insurance products.
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AXA IM launches flexible debt and equity property fund
In a bid to capitalise on the significant deepening of the real estate debt market that followed the disintermediation of banks in the wake of the financial crisis, Axa Investment Management has launched a global flexible property fund.
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Luxembourg investors now benefit from China RQFII scheme
Luxembourg’s global investor base can now take advantage of the Grand Duchy’s renminbi qualified foreign institutional investor (RQFII) program, enabling them to directly invest in the Chinese capital market.