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Friends Prov &#39s new business dives 12 per cent

Friends Provident new business figures have plummeted by 12 per cent to £181.6m from £206.8m EPI for the first half of the year.

Saving and investment business was down 47 per cent to £30.6m from £58.2m EPI. Individual pensions were down 27 per cent to £26.4m from £36.3m EPI and annuity sales decreased 29 per cent to £19.8m from £28m EPI. Mortgage endowment sales were down 60 per cent to £3.4m from £8.5m EPI.

Total life and pension sales were down 14 per cent to £159.8m from £186.1m EPI. Unit trust sales were down 7 per cent to £12.6m from £13.6m EPI.

Protection business was up 23 per cent to £11.8m from £9.6m EPI. Group pensions business was up 52 per cent to £62.6m form £41.3m EPI.

Shares in Friends are currently trading at around 243p.


IFS goes electronic

The Institute of Financial Services has introduced electronic testing to allow members to sit its Certificate for Financial Advisers when and where they want.Advisers are no longer restricted to sitting public exams at fixed times during the year and they can now register five working days before they want to sit CeFA papers one and […]

Top-selling funds lag on performance

The best-selling funds in 200 are among this year&#39s worst performers, with just two of last year&#39s 50 best sellers ranked in the top quartile. Of the 50 most popular active retail funds in 2000, 16 are now bottom quartile for the year to the end of July, with 20 in the third quartile and […]

Halifax doubles market share

Halifax more than doubled its share of mortgage market in the first six months of the year and now provides a quarter of all UK loans. The lender’s net market share rocketed to 25 per cent from 12 per cent in the half-year to June but group profits before tax slid to £839m from £931m […]

Fund sales are down by 28% but IFA share rises

Sales of unit trust and Oeic Isas continued to plummet in June, down by more than a quarter on the same month last year. Gross Isa sales for the month fell by 28.1 per cent to £571.7m compared with £795.5m in June last year, according to the latest figures from Autif. Total retail sales fell […]


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