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IFAs set for annuities surge

IFAs are set for a boost as demand for investment-linked annuities is predicted to surge this year by the Annuity Bureau.

By the end of 2000 it expects investment and with-profit linked annuities to make up 20 per cent of the annuity market, or £1.5bn, from five per cent in 1998.

The specialist IFA attributes the increased demand to ongoing relatively low standard annuity rates and to retirees being given more investment choice.

Managing director Peter Quinton says: “Investment-linked annuities need to be sold on advice because of the increasing number of products on the market. Advisers are also needed to explain the &#39reasons why&#39 when comparing the products to standard annuities which are more well protected and less risky.”


It&#39s a big gap, says AITC

Investment trusts have lower fund charges than unit trusts, according to the Association of Investment Trust Companies.Its research shows annual expenses for unit trusts average 1.38 per cent compared with 0.83 per cent for investment trusts.The trade body, which is responsible for the “its campaign” to promote investment trusts, says the gap is significant.AITC director […]

Egg hatches floatation plans

Egg has confirmed it plans for a partial stock market flotation later on this year in a bid to become more focused.Egg parent Prudential says customers will be able to buy 15-25 per cent of the bank and hopes the flotation will value Egg at £2.75bn.Egg has 940,000 customers and has taken £7.6bn in deposits […]

Royal flush as mutual takes over

Mutual life office Royal London is taking over United Assurance for £1.5bn, in a move set to boost the flagging cause of mutuality.The acquisition will be the largest takeover of a quoted company by a British mutual.Pro-mutual supporters will welcome the news following the threat to Standard Life by carpetbaggers and the pending completion of […]


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