Funds

Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.

Hargreaves Lansdown is confident its business model has the flexibility to cope with the ban on platform rebates proposed today by the Financial Services Authority (FSA).

The Financial Services Authority (FSA) has suggested it will not extend its proposed ban on platform rebates to life companies, but has promised to explore the issue further.

The ban on rebates from fund managers to platform providers is to cost platform operators up to £10m a year, the FSA has said.

The Financial Services Authority (FSA) has this morning confirmed its intention to ban both payments from providers to platforms and cash rebates to consumers.

Lindsell Train co-founder Nick Train has argued investors should not try to make money in equities by playing market cycles.

Vanguard chief investment officer Gus Sauter will retire at the end of the year after a 25 year spell at the firm.

Sam Vecht, head of BlackRock's emerging Europe equity team, has upped his weighting to Russia by 15% in recent months, on the view the country's equity market could significantly re-rate.

There are too many small, illiquid investment companies within the closed-ended sector which will struggle to win a place on wealth manager buy lists post-RDR, argues Standard Life Investments.

Incoming 3i chief executive Simon Borrows will this week announce plans to cut staff and shut a number of the group's overseas offices, according to reports.