News
Best Practice | news 26 Oct 17
Tax evasion/avoidance make up a fifth of the £34bn UK tax gap
The UK lost out on a fifth of the tax revenue it expected to raise in 2015/16 because of evasion and avoidance, figures released on Thursday by HM Revenue & Customs show.
Intrinsic helps double OMW’s client flows
Strong cash flows and a solid performance saw Old Mutual Wealth’s (OMW) funds under management rise 14%, year to date, with the firm’s net cash flow soaring 92% on the back of a strong performance by Intrinsic.
Commodities | news 26 Oct 17
Luxembourg commodity finance Sicav suspended
A second Luxembourg-regulated, commodity finance-related fund has halted operations this year after the directors of the Blackstar Commodities Fund suspended redemptions and the conversion of shares in its Sicav.
China adds 101 billionaires
There were nearly three times as many new Chinese billionaires than US ones last year, helping to make Asia home to the most billionaires for the first time and driving the global population to 1,542, according to a report from UBS and PwC.
Vanguard ventures into Germany, adds Euro Stoxx ETF
Vanguard has expanded into Germany by listing its range of equity and fixed income exchange-traded funds (ETFs) on the German stock exchange and also introduced a Euro Stoxx 50 Ucits ETF.