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Market turmoil sees 50 pc growth in traded life policies, says report

Investment in traded life policies by retail and institutional investors has risen by more than 50 per cent over the last year as a result of recent market turmoil, according to a report from the Bristol Business School.

The Market for Traded Life Policies report notes that the combined assets of the five largest funds distributed in the UK grew from £271.7m on November 1 2007 to £416.7m in 12 months. It estimates that retail investment into these funds rose from £67.9m to £104.1m or 53 per cent.

TLPs are US-issued, whole of life assurance policies sold before the maturity date to allow the original owner to access investments during their lifetime.

Managing Partners Limited has also seen a rise in its TLPs from £26m to £67.5m or 160 per cent over the same period, of which a quarter has come from retail investors.

MPL Managing Director Jeremy Leach says: “The market events of the last year have proven the real value of TLP funds’ ability to deliver steady, predictable returns, no matter what is happening to other asset classes.

“As more retail investors and their financial advisers appreciate the benefits of TLPs then we can expect there to be even more significant increases in investment into them in 2009.”


Axa heralds the end of free advice

Axa Winterthur Wealth Management chief executive officer Mike Kellard has welcomed the Retail Distribution Review feedback statement as bringing an end to the era of free advice.

Woolie thinking

So, farewell Woolworths. The really sad thing about your passing is that so few of us were surprised. As a working example of the way that retailing has changed, you exemplified how not to survive. Woolworths was, of course, closely followed by MFI in the closure stakes.


Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


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