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Clerical slashes with-profits bonuses

Clerical Medical has slashed bonuses on its with-profits policies, but MVRs have dropped by between 2 and 4 per cent from this time last year.

Regular bonuses on its with-profits life policies have been chopped down to 0.8 per cent from 1 per cent last year while with-profits pension policy bonuses fall to 1 per cent from 1.5 per cent.

Clerical’s with-profits fund returned 9.9 per cent over the course of 2004.


Correspondent’s week

My health has reaped huge dividends from my new job as senior reporter for Finance Week, the new Centaur magazine for finance directors. Or so I thought. Long days (8.30am until at least 7pm on press days) and endless copy deadlines leave little room for the copious amounts of alcohol to which I was allegedly […]

Huge hike for fund firms

The Financial Services Compensation Scheme is forcing fund firms to pay 27m to cover the risk of a fund management group going bust this year.

Pink Home Loans launches branded lending with First National

Pink Home Loans is launching a branded lending agreement with First National, a GE Company.The tailor-made portfolio is available now.The agreement between the two will provide bespoke products for borrowers with a history of adverse credit. Benefits include:Lower initial charge rate with no change to ERCs.Discount and fixed rate options.A new “near prime” range.Rates start […]

Veritas Launches Global Income Fund

Veritas, the fund management boutique set up by Newton founder Stewart Newton, is launching a global income fund, to be managed by James Harries.The fund is a Dublin based Oeic and will invest predominantly in global equities, with an ability to hold fixed interest and currencies. It will aim to produce a high and growing […]


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