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Commitment to with-profits

In response to the article in last week&#39s Money Marketing headlined, NU rethinks with-profits bond strategy, NU wishes to set the record straight on its commitment to with-profits bonds.

Norwich Union is one of the biggest providers of with-profits bonds in the industry and believes they have a key role to play in the investment arena. To reinforce our continued commitment to with-profits,we have just launched a special offer on our main bond products and launched an offshore with-profits bond.

One of our key objectives is to widen our investment offering to consumers to complement our strength in the with-profits bond market – this is clearly evidenced by our launch this week into the structured income bond market.

This widening of our investment offering is not a diversification away from with-profits. With-profits remains one of our key offerings.

Referring to the comments in the article that NU declined to disclose new business figures, as part of Aviva plc, Norwich Union reports its new business figures on a quarterly basis and as such is unable to disclose current sales figures outside of this reporting cycle. We will be updating the markets on our third-quarter sales figures on October 24.

Peter Hales

Sales & marketing director, Norwich Union


Exeter Investment gauges its exposure to split caps

Exeter Investment Group is reviewing the exposure of its funds to the split-cap sector in response to IFAs&#39 concern over professional indemnity insurance.The move comes after the group found that PI insurers were asking IFAs who do business with Exeter to advise them of their exposure to splits.Exeter has decided to limit the short-term exposure […]

Fidelity completes European fund range

Fidelity Funds has increased its European fund range to six funds with the introduction of its European larger companies fund. This Luxemburg-based Sicav will invest more than 50 per cent in a portfolio of larger European companies, with the remainder going into high-growth medium-sized companies. The fund will be managed by Frederic Gautier, who will […]

Standard slices payouts 10% as surrenders rise

IFAs say Standard Life has bowed to the inevitable by imposing a 10 per cent market value adjuster and slashing payouts by 10 per cent on Monday.Standard has made the with-profits cuts in an interim bonus declaration. It blames the move on stockmarket falls and rising surrenders.It follows increasing media and industry speculation about the […]

Non-partisan policy urged for pensions

Labour MPs, the ABI and product providers are urging politicians to work together to sort out pensions, saying if they cannot, then responsibility for pension policy should be removed from the political system.At a fringe meeting at Labour&#39s conference in Blackpool this week, ABI director general Mary Francis said pensions would be better served if […]

UK Equities: looking past short volatility

By Mark Martin, head of UK Equities, Neptune With markets facing numerous challenges this year, Neptune’s Mark Martin, manager of the UK Mid Cap Fund, and assistant manager Holly Cassell explain how they look past short-term volatility to focus on maintaining a strong long-term performance record. Read more here Important Information – for investment professionals only. […]


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