L&G

GOSLING'S GROUSE

Almost half the funds in the IMA Global Equity Income sector have cut dividend payouts over the past year, leading some wealth managers to caution income hunters when allocating to the increasingly popular space.

The Bank of England's latest thoughts on introducing negative interest rates to encourage higher lending from banks are 'somewhat schizophrenic', a leading economist has said.

Insurance giant Legal & General (L&G) has reported increased operating profit of £1.09bn in 2012, beating analysts' forecasts thanks to double digit sales growth.

Around 12,000 pensioners who hold annuities with Legal & General have been left without their regular payouts after a technical blunder.

Leading fixed income managers have been adding exposure to peripheral eurozone bonds as value dries up in the investment grade corporate space.

L&G Investments' managing director of investments Simon Ellis has left the firm.

The Treasury will launch a consultation tomorrow on the limits imposed on the amount of annual income drawdown investors can take, an expert claims.

L&G has unveiled its plans for adviser charging post-RDR, which include facilitated adviser charging and the removal of commission.

Legal & General has said it is preparing to launch its RDR proposition on 19 November as it announces interim results for the first nine months of the year.