Standard Life

Standard Life is to press fund managers to launch cheaper share classes for large platforms including itself, after HM Revenue & Customs said it would apply income tax to unit and cash rebates.

The Financial Services Authority is planning to ban rebates on legacy business which are paid by fund groups to platforms from 2016, in a move which will shake up the platform industry and force providers to charge groups for additional services.

Standard Life Investments (SLI) has handed its £52m UK Equity High Alpha fund to UK equity analyst Henry Flockhart, who will replace Ed Legget as lead manager on the fund.

Standard Life is investigating an error that has left thousands of advisers being quoted inflated fund prices on a number of platforms.

Standard Life has revealed restructuring and regulatory costs brought on by the Retail Distribution Review (RDR) and Solvency II cost the business £109m last year, up from £70m in 2011.

ONE TO WATCH

Fund groups have renewed their calls for sub-divisions within the Absolute Return peer group, after the IMA revealed its long-awaited review of the sector last week.

A leading equity manager warning on equity markets, the overhaul of the IMA's Absolute Return sector and Skandia's latest plans all made our top ten list of the most read stories last week.

Standard Life Wealth (SLW) is to pay up to £83.5m for Newton's private clients division, adding an extra £3.6bn in assets under management to its business.

Standard Life Investments(SLI) has agreed a deal to become the first ever Worldwide Partner of the prestigious golf Ryder Cup.