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L&G cuts terminal bonuses by 7.5 per cent

Legal & General is cutting terminal bonuses on most with-profits policies by around 7.5 per cent to reflect stockmarket falls. Annual bonus rates remain unchanged and will be reviewed at the year end. L&G says these cuts will bring maturity payouts with underlying assets. The maturity payout on a 10 year endowment for a male aged 30 next paying £50 a month will come down to £8,688 from £9,179 and on a 25 year policy to £77,976 from £84,370.


The Mortgage Operation runs CeMAP revision courses

Broker network The Mortgage Operation is offering intermediaries assistance in obtaining CeMAP qualifications by running a series of revision courses over the next few months. The courses, which start in November, will focus on CeMAP papers one, two and three and the Bridge/MAQ paper. Two days revision will be spent on each paper and brokers […]

BWD Rensburg gets agressive

BWD Rensburg is taking the aggressive view to the UK market.Its aggressive growth fund is a unit trust that will invest in between 25 and 40 companies, with a minimum exposure of 1.5 per cent in any one company. At least 50 per cent of the initial spread will be in the FTSE 350 index, […]

FSA will hit the ground running

At the end of November, the FSA will finally get its full authority and the era of the single regulator will arrive. But the new regulator has already been busy, both in terms of preparation and in pursuing a number of projects that have arisen along the way.Perhaps an indication of the ambitious attitude tow-ards […]

What trade bodies think of Sandler

AITCClients at the heart of the systemThe AITC is urging the Government to retain polarisation and rec-ognise the place of investment trusts in developing financial services policy, in its response to the review.It says the review has wide public policy implications in terms of enhancing compet-ition and increasing the value of investment.The AITC lists its […]

India GDP surprise

By Kunal Desai, head of Indian Equities, Neptune Kunal Desai, manager of the Neptune India Fund, comments on the strength of India’s latest GDP figures. Click here for more Important Information Investment risks The Neptune India Fund may have a high volatility rating and past performance is not a guide to future performance. The value […]


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