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Now ScotMut set to offer Sandlerstyle with-profits fund

Scottish Mutual is set to become the latest office to offer a Sandlerstyle ringfenced with-profits fund.

The proposals are still in the early planning stage, with the company yet to decide the exact design or how it would sit alongside its existing with-profits fund.

But the news will give some comfort to the brand which saw parent Abbey National strike a deal two weeks ago to market Pru-dential&#39s with-profits bonds through its high-street branches in preference to ScotMut&#39s bonds.

Abbey is known to be weary of injecting further capital into ScotMut and a ringfenced smooth managed fund would be less capital-intensive.

In recent months, rival offices Scottish Widows and Scottish Equitable have launched less capital-intensive modern alternatives in anticipation of the post-Sandler regime.

Scottish Mutual head of communications Chris-tine McAllister says: “It is our firm intention to offer a Sandler-style with-profits fund and we are working enthusiastically on it.

“The actual mechanics are not ready for public consumption yet.”

Byrne Williams managing director Tony Byrne says: “They are just pre-empting what they will be required to do by Sandler.

“The new style of with-profits will just be cleaner, not better, and returns are likely to be lower.”


AA closes down its IFA business

The AA has quietly closed the doors on its IFA business less than a year after becoming fully operational, blaming September 11 and plunging stockmarkets.AA Financial Services shut up shop in April after just seven fully operational months but the firm remained tight-lipped about the closure until now.It opened on an executiononly basis in January […]

Britannia International – Guaranteed Capital Equity Bond Issue 11

Thursday, 24 October 2002 Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum investment: Lump sum £1,000 Place of registration: Isle of Man Investment split: 100% linked to the performance of the FTSE 100 index Guarantee: Capital returned in full regardless of the performance of the index Yield: […]

Campaign seeks FSA meaning of misselling

Pressure is mounting on the FSA after Aifa chairman Lord David Hunt joined the calls led by Ron Sandler for the regulator to publish a definition of misselling.Hunt called Sandler&#39s recommendation a welcome move, saying that for far too long what constitutes misselling has been defined in hindsight by the FSA and advisers are running […]

Accreditation symbol for MTE service users

Common trading platform the Mortgage Trading Exchange, set up last month in a joint initiative between Mortgage 2000 and Mortgage Brain, has unveiled an accreditation symbol for providers using the service.It says the symbol is intended to give intermediaries a clear and visible means of identifying companies which are committed to trading electronically through MTE.MTE […]

In search of value? Banks and the sectors leading Europe’s recovery

By Rob Burnett, head of European equities, Neptune  After nine years of underperformance versus quality growth, Rob Burnett, manager of the Neptune European Opportunities Fund, believes that value strategies have reached an inflection point. Watch Rob discuss why he believes value is well positioned to resume its historical trend of outperformance. Click here to watch […]


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