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AFS offers service to aid pro-mutuality investors

The Association of Friendly Societies is offering a phone service to help pro-mutuality investors find investment opportunities.

The move comes after 50,000 Scottish Widows customers voted against demutualisation. The AFS says a large number of investors are interested in investing in mutual firms.

It says many mutual investors are reluctant to reinvest their windfall payments in a non-mutual. The service will supply details of friendly societies operating in the UK and their savings and investment products.

AFS general secretary Marion Poole says: “Millions of investors in the UK recognise that the absence of the need to provide shareholder returns provides a greater yield for them as individual customers.”

The first windfall payments are due to reach investors in the next two weeks.

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