News
Best Practice | news 22 Jun 18
Guernsey court limits trustee tax error rule
The Guernsey Court of Appeal has made a key judgement on a rule that allows trustees to correct decisions they made on the basis that there were unintended consequences – often unforeseen taxes.
South Africa’s Prescient Life sold
Johannesburg-headquartered investment manager 27Four has secured a life insurance licence after agreeing to acquire 100% of Prescient Life from its parent company Prescient Holdings.
PEOPLE MOVES: PSG Wealth, Vanguard, Martin Currie
Vanguard fills its newly created head of Italy position, Martin Currie sets out its succession plan involving a Blackrock alum and PSG Wealth grows its Johannesburg office.
Investment | news 21 Jun 18
BoE rate decision reveals surprise hawk
The Bank of England (BoE) has held interest rates at 0.5% but the central bank’s chief economist has surprised markets by siding with the hawks at the latest monetary policy committee (MPC) meeting.
Pension transfers hit record £10.6bn in first quarter
The belief that UK pension transfers peaked in 2017 has been proven wrong as figures from the UK’s Office for National Statistics (ONS) show £10.6bn flowed out of defined benefit schemes in the first quarter of 2018.