Channel Island-based Brooks Macdonald International has won a mandate to manage half of a South African trust company’s offshore portfolios, less than four months after acquiring an intermediary licence.
International pensions administrator STM Group is looking to offer QROPS tailored for UK expats in Australia after HMRC scrapped thousands of schemes from its approved list in July.
An Australia-based overseas pension scheme has been added to HM Revenue & Customs’ approved list of qualified recognised overseas pension scheme (QROPS) after the body delisted thousands of schemes in July.
Multi-national company JTC has completed its takeover of Kleinwort Benson’s fund administration business, which will bolster its operations in the Channel Islands and give it a permanent base in South Africa.
JTC has acquired Kleinwort Benson’s fund administration business in South Africa and the Channel Islands, which it says will boost its global headcount by 40% to 450 people.
South African financial advisers who offer transfers into Qualifying Recognised Overseas Pension Schemes (QROPS) are expecting strong interest from clients in the coming year, according to a recent survey.
Nearly all South African independent financial advisers would welcome more efforts by the country’s regulator to police unregulated schemes and products, but plans for a UK-style Retail Distribution Review have received a mixed reception, according to a new survey.
Brooks Macdonald International (BMI) has been granted a license to provide advisory and intermediary services in South Africa.
A former UK company director who produced false documents designed to deceive creditors into financing his firm is facing extradition and a prison sentence after he fled to South Africa.
Old Mutual International, which rebranded from Skandia International last December, has reported a strong pick up in business for the first quarter of 2015.
Guernsey-based asset manager, MitonOptimal, has launched an offshore fund of funds which gives its international clients the opportunity to invest in the UK stockmarket.
Morningstar Inc, the US-based research provider and financial services group, said it has been granted a licence to provide discretionary investment management and advisory services to South Africa-based financial institutions and advisers.
