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High Court approves Equitable deal

The High Court has approved Equitable Life&#39s compromise scheme aimed at preventing the society from sliding into insolvency.

Equitable will now begin implementing the plan – which received the backing of up to 99 per cent of its with-profit policyholders – in order to qualify for £250m from Halifax.

Under the scheme, guaranteed annuity rate policyholders receive an uplift in the value of their pensions of 17.5 per cent in return for giving up their guaranteed rates.

Non-GAR policyholders receive an uplift of 2.5 per cent for both accepting the uplift for GAR holders and waiving their rights to sue Equitable for misselling.


New UK fund research service

World Investor Link has launched a new service in the UK through the Financial Times which allows fund managers to target investors who are looking for UK investment opportunities.A similar service is up and running in the US and World Investor Link says 63 per cent of investors using the service there subsequently invest in […]

Standard Life – 3 Year Buy-To-Let Fixed

Fixed term: 3 yearsFixed rate: 6.10%Minimum loan: £40,000Maximum loan: up to 80% of valuation subject to maximum £400,000 on single property, £500,000 on up to 5 rental propertiesIncome multiples: income must equal at least 9% of loan amount, subject to minimum principal income of £20,000 or £30,000 jointArrangement fee: £350 for single mortgage, £500 single […]

ScotMut urges axing defined payment

Scottish Mutual is calling on the FSA to drop the defined payment rules from its depolarisation proposals. It says these has been unnecessarily bundled in and are not required to introduce greater competition. Many IFAs will carry on as before merely dropping the independent epithet, it claims. Pensions and investments development director Leslie Gray says […]

SLI selects bond

Scottish Life International has introduced the select income and growth bonus bond, a stockmarket-linked offshore bond that can be tailored towards individual&#39s attitude to risk.The bond has a term of three years and two months and is linked to three stockmarket indices — the FTSE 100, S&P 500 and Eurostoxx 50. Investors can go for […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]


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