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Coventry increases lending and profits

Coventry Building Society increased its gross lending by 14.3 per cent in 2000 to £1.2bn from £1.05bn in 1999.

Coventry&#39s pre-tax profits were also up by 5.9 per cent in 2000, at £40.7m from £34.8m. Its management expense ratio was reduced by 0.03 per cent to 0.70 per cent from 0.73 per cent over the same period.

Coventry chief executive Martin Ritchley says: “Our results demonstrate the benefits which our building society status brings to our savers and borrowers. Over the last five years we have returned over £120m to our members, in the form of better savings rates and lower mortgage rates.”


Absolute return for Henderson

Henderson Global Investors has introduced a fund of hedge funds aimed at experienced investors who are looking for a medium-risk offshore investment.The Henderson absolute return portfolio invests in a range of Henderson&#39s hedge funds, but particularly those that use a long and short equity strategy. This is where the fund manager sells stocks with the […] takes Synaptic Systems software is incorporating the quotation engine from Synaptic Systems into its website to allow comparison of life insurance policies online. Level term and mortgage protection policies are the first products to feature on the site, with Friends Provident, Norwich Union Life, Permanent Insurance, Scottish Provident, Swiss Life and Legal & General offered through the portal. […]

LE author attacks&#39flawed&#39 Catmarks

One of the authors of the controversial London Economics polarisation report has slammed Catmarked products, claiming they are seriously flawed. Economic consultancy Charles River Associates principal Tim Wilsdon, formerly of the now defunct consultancy London Economics, makes his comments in a column in this week&#39s Money Marketing. He says there are three reasons why the […]

NDF&#39s 6th sense for income & growth

NDF Administration has brought in the sixth version of its extra income & growth plan. The plan is a guaranteed income and growth bond, with Abbey National Treasury Services providing the investment management. Investors will buy shares in Census, an investment company based in Ireland, which will then invest in the Nikkei 225 index over […]


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