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Abbey concludes review of Scot Prov and Scot Mut

Abbey has completed the review of its with-profits funds and says its closed Scottish Provident and Scottish Mutual funds need no further capital to comply with the FSA&#39s realistic reporting requirements.

Abbey says the equity exposure in the funds will increase to around 35 per cent. The provider says just under half its with-profits policyholders&#39 market value reductions will be improved and the remainder will stay the same.

In recent weeks there has been speculation that Abbey intends to sell its with-profits closed books.

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