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Co-op claims Isa success

The Co-operative Insurance Society claims Isas are a great success.


CIS says 85 per cent of its regular Pep savers have converted to Isas, and 75 per cent of life Isa account holders have never held a Pep or Tessa.


CIS general manager marketing Martin Clarke says: “The survey shows Isas are proving a success contrary to the predictions of many commentators.”


The life office has made a report on the six months since the Isa launch in April.


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Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.

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