Horlick says she hasn't pulled platform plans; targets 2012 launch

Bramdean Asset Management has insisted it is on course for a mid-2012 launch of its execution-only funds supermarket, dimissing reports it had shelved the plans due to the Financial Services Authority’s fund manager rebate ban.

The announcement from Bramdean comes after the Sunday Telegraph reported that the firm’s chief executive Nicola Horlick (pictured) had decided to shelve the platform, to be called Beesandhoney.com, due to the upcoming ban.

The website is set to launch in mid-2012 and plans to differentiate itself from rivals such as Hargreaves and BestInvest by having ‘a high level of content, with contributions from investment professionals and journalists'.

Horlick, said: ‘The FSA has undertaken a major review of the way that investment funds are sold (the retail distribution review), which will benefit consumers as front-end charges will disappear.

‘There is a greater need to save as house prices stagnate and pension provision has been reduced for many people.  Beesandhoney.com will provide investors with the information that they need to make informed choices and will allow them to invest at a low cost. A full range of investment funds will be offered on the site.’