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Isis warns slump may be worse than 1929 crash

Isis is warning that if US equities do not rise by at least 7 per cent a year until 2009, global markets will have performed worse than in the 1929 crash.

Chief investment officer Robert Talbut says companies are repairing balance sheets after poor profitability and interest rate cuts have not had the desired effect.

Isis says equity valuations are a clear buying opportunity but modest returns over the medium term mean people should take a more diversified approach to asset allocation.

Talbut says: “The equity market experience of this decade is shaping up to be the worst ever. The falls have been so extreme that US equities need to rise by just short of 7 per cent a year and German equities 13 per cent to end 2009 to ensure we do not do worse than the experience of the previous worst decade of performance in the 1930s.”


ABI calls for wider review of rulings on transsexuals

The ABI is calling for industry views on a wider Government consultation on legislation to recognise transsexuals in their changed gender.The proposals would give transsexuals the right to be treated in their new gender for all financial services products.The Government wants to legislate on the issue after the European Court of Human Rights ruled that […]

AITC hardship fund raises only £1m of £10m target

The Association of Investment Trust Companies&#39 hardship fund, set up to provide financial support to victims of collapsed split-capital investment trusts, has attracted only a 10th of its target in the six weeks since launch.Director general Daniel Godfrey is seeking to reassure fund groups that donations to the fund are not an admission of culpability […]

Loan firms set sights on key workers

Specialist lender BM Solutions and packager The Mortgage Partnership are offering a key worker mortgage to help teachers, nurses, firefighters and health workers get on the housing ladder.The product will be available across the UK but is primarily targeting hotspots such as London, where affordability is an issue for key workers on relatively low salaries.The […]

Britannia dedicated to the offset market

Britannia Building Society is set to enter the offset market with a product called the savings mortgage which offsets a dedicated savings account against the customer&#39s mortgage.The society says it has set up the product after research found that consumers wanted simplicity from an offset mortgage.Britannia says offsetting against a separate savings account avoids the […]

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


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