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L&G predicting FTSE to end 2004 at 4,700

Legal & General is expecting the FTSE to end the year at 4,700, an increase of around 8 per cent on its current level, but says an outlook of modest increases in interest rates means it will be a difficult year for investment grade corporate bonds and gilts.

L&G Investment Management financial economist Andrew Clare says: “The US economy ha picked up strongly this year and after a couple of years in the doldrums even Europe and Japan are showing signs of recovery. Equity markets have reflected this with modest gains this year. In the UK we believe this progress can continue.”


Cazalet claims Moms beat Fofs

Manager of managers should provide superior risk-managed portfolios, strategies and returns compared with fund of funds, according to a report by Cazalet Consulting. The report, commissioned by Scottish Widows to assess its tie-up with leading multi-manager Russell Investment Group, argues that Fofs are limited because they can only invest in retail funds available in the […]

Standard cuts critical cover term to 25 years

Standard Life is reducing the maximum term on its critical-illness policies from 35 years to 25 years and removing angioplasty from its list of covered conditions. The firm says it would rather maintain the guarantee over a shorter term than introduce reviewable rates although rates on stand-alone plans will be reviewed every five years. Standard […]

PI is still half-baked

It was with interest that I read Keith Lewis&#39s letter (MoneyMarketing, November 6) and the responses from Glyn Morris of Magian and Fergus Chappel of Collegiate (Money Marketing, November 20). My case is very similar to Keith&#39s. Even though I say it myself, I am totally “clean” and have been in financial services for 44 […]

NU exits pre-fund LTC to focus on immediate needs

Norwich Union has withdrawn from the pre-funded long-term care market and will instead focus on immediate needs. The company says its review of the pre-funded LTC sector shows that the market has been in decline because consu-mers have otherfinancial priorities. However, it says there has been strong growth in the immediate needs LTC market in […]


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