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AMP Pearl and London Life close to new with-profits business

AMP Pearl and AMP London Life are closing their doors to new with-profits bond and annuity business. The product range will be plugged with new products from AMP NPI.

AMP says that the Pearl fund has been selling equities since the beginning of the year and currently has an equity exposure of 35 per cent. It says it will reinsure or securitise if required to meet regulatory requirements

AMP says current market condition mean that it is unlikely to meet its growth targets.

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PI&#39s the limit

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Pru is optimistic despite profit fall

Prudential suffered a 15 per cent fall in group profits in the first half of 2002 despite its UK intermediary business growing by 5 per cent from £222m to £233m equivalent premium income.Group profits were down from £377m last year to £332m, due partly to a £146m loss from investing in US bonds.Although Pru&#39s free-asset […]

IFAP boosts commission by £18m

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Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders

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