UK: TOP PENSION FUND NOW HAS TECHNOLOGY STOCKS
Article Abstract:
The manager of the J Rothschild Global Asset Management fund, Andrew Green, avoided telecoms and technology stocks for the first quarter of 2001 and achieved a gain of 6.1%, the only pension fund to record an increase for the quarter. Green believed that the value of information technology stocks was over optimistic last year and ignored them but he has now diverted around 5% to 8% of his fund into technology stocks which he now says are undervalued. British pension fund managers fell, on average, 7.2% in the first quarter and the FTSE All-share index showed a -8.4% return for the same period.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: BUDGET COULD COVER PENSION FUNDS
Article Abstract:
KPMG and PricewaterhouseCoopers, both of London UK, accountants, have made forecasts about the issues to be included in the spring-2001 budget of Gordon Brown, Chancellor of the Exchequer. KPMG anticipates that pension fund restrictions will be eased, rules on share options will be changed, and personal allowances for those over retiring age will be increased. PricewaterhouseCoopers forecasts that tax on motoring and tobacco will increase and that there will be statements on tax credits for families. Both companies expect that the band for 10% income tax will be widened.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: VIRGIN TO EXPAND PERSONAL PENSION BUSINESS
Article Abstract:
Virgin Direct is to expand its group personal pension business. Virgin wants to use IFAs to build bridges with employers in order to allow its direct sales force to concentrate on employees. It believes it can capitalise on the strength of fee-based IFAs and the relationship they have with employers.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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