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Phoenix Group Looks Set to Rise to 800m Flotation Print E-mail
 
Prudential Research Shows Advisers Turn to With-Profits Investments Print E-mail

TEP - 27 May 2010

New research* from Prudential shows that up to a third of advisers expect to recommend with-profits products to clients this year.

30 per cent of financial advisers expect to advise clients to invest in with-profits products during 2010. 

Prudential, whose with-profits fund returned 18.9 per cent in 2009 and paid out £2 billion to policyholders, believes with-profits are increasing in popularity as advisers look for investment products which aim to deliver long-term and steady returns.

Andy Brown, Director of Investment Funds at Prudential, said: "With-profits sales have strengthened in the past 18 months as investors have looked for more cautious alternatives to pure equity investment and the growing interest looks set to continue into 2010 despite the strong recovery in the stock market.

 
Singapore's GDP Rockets 39% as Asian Trade Soars Print E-mail

Bloomberg – 20 May 2010

Singapore's economy expanded at a faster pace than initially estimated last quarter as rising global demand boosted manufacturing and the opening of the island's first casino spurred tourism.

Gross domestic product grew an annualised 38.6 per cent from the previous three months in the first quarter, compared with an April estimate of 32.1 per cent, the trade ministry said in a statement today. That was more than the 33.4 per cent increase economists were expecting.

From a year ago, the economy expanded by 15.5 per cent, the highest quarterly growth on record. Singapore's economy shrank by 1.3 per cent last year, revised data shows after a previously reported contraction of 2 per cent.

Officials said the strong rebound from its worst-ever recession last year will be helped by a broad-based recovery in the United States and buoyant growth in large Asian economies such as China.

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Scottish Friendly Funds Grow 22% Print E-mail

TEP – 28 April 2010

 

Financial services group, Scottish Friendly, has seen its business grow to £2.3bn, up 22% from last year.

 

The Glasgow-based firm saw its core life and pensions sales increase by 18% to £7.6m.

The mutual's 'with profits' fund returned 15.8%, which the company says went some way to reverse last year's losses.

 

The growth meant final bonuses for members with maturing policies has now increased.

Scottish Friendly said partnerships with other providers such as Pearl and Royal London had reaped benefits.

 

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Wesleyan Starts With-Profits Bonus Review Print E-mail

TEP – 8 April 2010

Wesleyan Assurance Society, the small Birmingham-based mutual society, has announced a review of its with profits bonus rates.

The financial services specialist for professionals said pay-outs on 25-year endowments have been 43.6 per cent – over £15,500 – better than average.

Cumulative investment return for policyholders of 64.7 per cent over 10 years compared with a FTSE All Share gave a total return of 17.7 per cent over the same period.

In addition, all annual bonus rates were maintained or increased, there were no market value reductions on any policies and a mortgage endowment guarantee on open fund policies.

Tim Pindar, chief actuary of Wesleyan said: “Wesleyan’s with profits policies regularly feature among the very best in industry tables for long-term performance. Our customers recognise that this type of investment, held with the right provider, provides a very attractive savings option.
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