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Clerical applies MVA on with-profits fund

Clerical Medical has imposed a market value adjuster of 7.5 per cent on encashments of more than £50,000 from its with-profits fund. It is blaming continuing stockmarket falls, saying the trigger point for an MVA review was breached some time ago.

The MVA will apply to the excess over £50,000 on withdrawals from its with-profits bonds and some pension products. Clerical has not previously applied an MVA and will keep its application under review.

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Royal & SunAlliance Investments predicts world economy to plunge into recession

Royal & SunAlliance Investments says it expects the global economy to be tipped into a recession in one of the first investment outlooks published since attack on the USA.It says the downturn will be deeper than previously expected but its impact will be softened by deeper interest rate cuts.R&SA says that in the short term […]

SG Life & Pensions – SG Life International Portfolio Bond

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Henderson widens fixed interest with income Isa

Henderson is extending its institutional fixed-interest expertise to the retail market with a new Isa and Pep transfer wrapper to be launched next week. The Henderson managed income Isa/Pep will open on September 19 and will bring together a portfolio of the fund manager&#39s best-performing institutional corporate and high-yield bond funds. Although the wrapper will […]

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