Re-investors will see income fall off a ``savings precipice''
With more than 5.5 million fixed rate products worth over £110 billion maturing in 2010 - the largest number maturing in July - HSBC warns investors that with savings rates languishing at historic lows, many UK ``re-investors'' will see their investment income fall off a 'savings precipice' this year.
Columbia Management Group LLC, the fund unit that Ameriprise Financial Inc. bought from Bank of America Corp. last year, said investors will save about $30 million a year after fee cuts and fund mergers.