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Equitable gains from shift to bonds

Equitable Life has made a £14m gain as a result of being forced to move its investments from shares to government bonds following the House of Lords judgment last July.

Equitable was forced to move share investments into government bonds to ensure that guarantees to policyholders are backed by safe investments. Consequently the company missed out on falls in share prices at the turn of the year.

Equitable chief executive Chris Headdon says: “Return on our with-profits fund ought to look reasonably good for last year.”

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

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