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Cazalet attacks Standard Life

Influential analyst Ned Cazalet has launched a scathing attack on Standard Life, saying its reserves are severely depleted and that it is pursuing a high-risk investment strategy.

Speaking at a round table organised by F&C, Cazalet said: "Standard Life has lost £9bn out of its £10bn capital. Standard Life is taking riskier and riskier bets. Standard Life is the man who cannot leave the roulette table. It is praying for a win."

Standard Life public affairs manager Jeff Newton says: "Standard Life remains strongly capitalised as proven by the recent renewal of our &#39Triple A&#39 ratings by Standard & Poor&#39s and Moody&#39s. We remain committed to equity investment because we believe equities will outperform bonds in the long term. Our strong capital base allows us to pursue this investment strategy and provides a buffer against the kind of market volatility we are experiencing at the moment."

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