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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."


Whitechurch chiefs back portfolios with own cash

Whitechurch Network chairman Kean Seager is putting his money where his mouth is by transferring his own pension pot into one of four equity portfolios the network has developed for its members.He is following close on the heels of Whitechurch Securities managing director David Davies, who will be first into the new portfolios.Using Skandia&#39s multi-manager […]

&#39Sandler puts firms between a rock and a hard place&#39

The 1 per cent world of stakeholder-style products proposed by Sandler will leave providers between a rock and a hard place, warns Norwich Union.The country&#39s biggest life company says economics dictates a sliding scale of charges as writing low-premium business is more expensive but to call for higher charges for poorer consumers would court negative […]

New head of investment trusts at First State

First State Investments has announced the appointment of Lucy Allan as its new head of investment trusts. Allan&#39s appointment follows current head of investment trusts Teddy Tulloch&#39s decision to retire at the end of August after 30 years with First State and Stewart Ivory before it was bought by First State in 2000.When she joins […]

Suite cap would be sour for savings

Ron Sandler&#39s embrace of price-capping on a grand scale is deeply disappointing and deeply hazardous for IFAs although much depends on the FSA.Providers are expressing serious concerns about whether the FSA could do a stakeholder-style RU64 ruling on the planned price-capped suite of products. Even without this, a new 1 per cent regime could prove […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


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