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Royal London Maintain Position Among Top With-Profits Payouts 2008 Print E-mail

TEP - 7 April 2009

Royal London, the UK's largest mutual life and pensions company, has today announced bonuses for 2008 on with profits policies in the Royal London Long Term Fund and in the closed Scottish Life Fund3.

With effect from 1 January 2009:

The benchmark 25-year payout on a Royal London £50 per month 25-year with profits endowment maturing on 1 January 2009 is £43,2381 an annualised return of 7.6%, representing a real2 return of 4.4% p.a.

The payout on maturity of a Scottish Life3 £50 per month
25-year with profits endowment is £32,4521 an annualised return of 5.7%, representing a real2 return of 2.6%.p.a.

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Investing in Traded Endowments Print E-mail

London – 26 March 2009

Martin Fagan from What Investment investigates the rise of insurance policies as an attractive defensive asset class.

It has taken a banking crisis, a stock market collapse, a global credit crunch and interest rates falling to almost zero per cent to make endowments fashionable again.

Twenty-five years ago, endowments were seen as the Swiss army knife of financial products, suitable for everything from paying off your mortgage to school fee planning.

But their fall from grace was as swift as it was spectacular – the accusations that the policies were mis-sold and constant headlines in the financial press that dwindling bonus rates meant the maturity payout might not cover the outstanding mortgage on a home, all contributed to their near-demise.

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Analyst More Bearish on Singapore Print E-mail

The Malaysian Insider - 20 March 2009

Economists at major foreign banks have slashed forecasts for Singapore’s economic outlook, as the slumping global economy batters its key export sector.

Goldman Sachs, for example, now believes Singapore’s economic output will shrink by 8 per cent this year compared with last year. It previously forecast a 4 per cent slide.

The United States bank is among the most bearish in terms of outlook.

Credit Suisse expects a 6.5 per cent contraction. Its earlier forecast was for a fall of 5 per cent. HSBC now sees a 7 per cent slide, after earlier predicting a 5 per cent retreat.

If that 7 per cent figure proves correct, it would easily be Singapore’s poorest performance since the data was first compiled in the mid-1970s, HSBC said.

All the downgrades came shortly after Minister Mentor Lee Kuan Yew raised the possibility that the economy could shrink by as much as 10 per cent this year.

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IFAs in UK Look to TEPs for Guarantees And Returns Print E-mail

TEP – 16 March 2009

(IFAs) or  Independent Financial Advisers in UK look to Traded Endowments for guarantees and returns

Leading market maker PolicyPlus has found that IFAs whose clients are frustrated with cash rates and looking for a safe alternative are choosing Traded Endowments (TEPs).

Interest rates are currently so low that holding cash over the medium and long term can significantly erode capital. For example, over 10 years, £15,000 invested with a 5% return would grow by an extra £6,149 compared to an interest rate of even 2%.

The potential returns from TEPs are much higher than cash deposits even though the capital guarantees are almost as good - and in some cases better than cash!

Andrew Briggs, of Oakleaf Independent Financial Services comments,

"I recommend TEPs to clients who are looking to make their money work harder and are able to invest for 5 years or more. The guarantees are excellent, they are tax efficient and they provide the prospect of good rates of return."
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World Bank: Global Economy Will Shrink in 2009 Print E-mail

New York (AP) – 8 March 2009

World Bank predicts global economy will shrink this year for first time since World War II

The World Bank predicts the global economy will shrink this year for the first time since World War II, and sees trade at its lowest point in 80 years.

The World Bank also said Sunday the growing global financial crisis will create a multibillion-dollar financing shortfall for poor and developing nations.

A group of 129 countries face a shortfall of $270 to $700 billion this year, the World Bank says. It warns international financial institutions will not be able to cover even the low end of that estimate.

The bank said only one-quarter of the vulnerable countries will be able to ease the impact of the economic downturn through job creation or "safety net" programs

 

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