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Sandler Review
In 2001 the Government of the United Kingdom asked the British businessman Ron Sandler to: *Identify the competitive forces driving the retail financial services industry; and *Suggest policy responses to ensure that customers are well served. Proposals The Sandler report suggested that there are three main reasons why the industry seemed to be failing to serve large portions of the population. The government is particularly worried about so called savings gap, i.e. the failure to provide adequate funds for their retirement. The report cited: *The complexity and opacity of many financial services; *The failure of the industry to attract and engage with the majority of lower- and middle – income consumers; *The inability of consumers to drive the market. Ron Sandler suggested the development of a suite of simple, low-cost, risk-controlled products. The name “Stakeholder” was given to those products, although they are still referred to as Sandler products. The maximum level ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of The United Kingdom
His Majesty's Government, abbreviated to HM Government or otherwise UK Government, is the central government, central executive authority of the United Kingdom of Great Britain and Northern Ireland.Overview of the UK system of government : Directgov – Government, citizens and rights Archived direct.gov.uk webpage. Retrieved on 29 August 2014. The government is led by the Prime Minister of the United Kingdom, prime minister (Keir Starmer since 5 July 2024) who appoints all the other British Government frontbench, ministers. The country has had a Labour Party (UK), Labour government since 2024 United Kingdom general election, 2024. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ron Sandler
Ron Sandler CBE is a British businessman best known for his contribution in the rescue of Lloyd's of London, where he was CEO from 1995 to 1999. He was also the government-appointed executive chairman of Northern Rock during its three-year nationalization. Early life Sandler was born in 1952 in Durban, South Africa, and grew up in Bulawayo, Rhodesia (now Zimbabwe), where he was educated at Milton School. In 1970, he was awarded the Anglo American Open Scholarship to Queens' College, Cambridge where his undergraduate degree was in engineering. During his time at Cambridge, he received a blue in Modern Pentathlon. His post-graduate study was at Stanford University, where he received an MBA in 1976.Northern Rock plc , HM Treasury, 17 February 2008 Early career In 1976, Sandler joined T ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income". The borrower wants, or needs, to have money sooner, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * the term to m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unit Trust
A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors' money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on the trust, it may invest in securities such as shares, bonds, gilts, and also properties, mortgage and cash equivalents. Those investing in the trust own "units", whose price is called the "net asset value" (NAV). The number of these units is not fixed and when more is invested in a unit trust (by investors opening accounts or adding to their accounts), more units are created. In addition to the UK, trusts are found in Fiji, Ireland, the Isle of Man, Guernsey, Jersey, New Zealand, Australia, Kenya, Uganda, Tanzania, Namibia, South Africa, Singapore, Malaysia and Zimbabwe. History The first unit trust was launched in the UK in 1931 by M&G under the inspiration of Ian Fairbairn. The rationale behind the launch was to emulate the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collective Investment Scheme
An investment fund is a way of investment, investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to: * hire professional investment managers, who may offer better returns and more adequate risk management; * benefit from economies of scale, i.e., lower transaction costs; * increase the asset diversification (finance), diversification to reduce some unsystematic risk. It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Terminology varies with country but investment funds are often referred to as investment pools, collective investment vehicles, collective investment schemes, managed funds, or simply funds. The regulatory term is undertaking for collective investment in transferable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unitised Insurance Fund
Unitised insurance funds or unit-linked insurance funds are a form of collective investment offered life assurance policies. An insurance company's contract may offer a choice of unit-linked funds to invest in. Insurers that offer these contracts are mainly found in the UK and British Isles offshore financial centres. All types of life assurance and insurers pension plans, both single premium and regular premium policies offer these funds. They facilitate access to wide range and types of assets for different types of investors. The range of fund choice for investment has grown significantly in recent years with the increased trend to provide unit-linked alternatives to popular unit trust A unit trust is a form of collective investment constituted under a trust deed. A unit trust pools investors' money into a single fund, which is managed by a fund manager. Unit trusts offer access to a wide range of investments, and depending on ... and OEIC funds styled as ''externally ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
