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AMP withdraws from Equitable negotiations

Aegon UK, the British subsidiary of the Dutch insurance giant, has withdrawn from negotiations to acquire Equitable Life&#39s assets.

Aegon had been seen as the front-runner for Equitable until the announcement. Its withdrawal leaves Australian insurer AMP as the sole potential buyer. AMP presently derives more than half of its business in the UK.

If a cap on the open ended liabilities on the 90,000 guaranteed annuity policies can be agreed, a deal could go ahead which would see the buyer take over Equitable&#39s £26bn life fund.

Such a deal would require approval of policyholders and the court.


Britannic takes chance on ageing population

Britannic Asset Management is capitalising on the accelerating pace of the healthcare sector with the introduction of its global healthcare fund. This unit trust aims to achieve long term capital growth by investing in companies operating in a range of health fields, including pharmaceuticals, hospital management and biotechnology. Figures from the Institute for Fiscal Studies […]

E D&F Man hedges its bets

ED & F Man has introduced a guaranteed equity bond that invests in a portfolio of hedge fund strategies. The maturity date and target return differs depending on which currency class has been chosen. Investments in euros will provide a return of 14 per cent a year until March 31, 2012 and investments in dollars […]

Industry won&#39t make a drama out of Misys

Recent incidents show networks may have to shape up if they are to hold on to their position of power in the IFA market. The decision by Misys to reassess the 3,300-strong IFA membership of three of its networks, Kestrel, Countrywide and Financial Options, at a cost of £350,000 is adding to growing criticism of […]

BGI offers ETFs to track Euro sector indices

Barclays Global Investors, subsidiary iShares is launching a raft of sector-based exchange traded funds to track four new Bloomberg pan-European sector indices. The funds will use a new investment tool also known as iShares which is designed to bring together some of the benefits of both shares and funds. Like the shares of a listed […]


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