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NU reverts to monthly property valuations

Norwich Union has moved back to monthly valuations on its property fund range following a slowdown in redemptions.

The firm has been operating on fortnightly valuations across its property funds, including the £2.5bn Norwich property trust, since December after a surge in volatility across the asset class led to widespread redemptions.

The Norwich property trust has been one of the worsthit funds, having fallen from over £4bn in August 2007. The group says redemptions in the trust are now 10 per cent of those seen in December 2007.

The trust’s cash level has risen in the past month to 6.7 per cent, with 93.1 per cent invested in direct property and 0.2 per cent in property shares.

A spokesman says: “Movements in property values appear to have returned to more usual levels and this should be seen very much as a return to business as usual for these funds, none of which has had to suspend trading or defer redemptions.”


Thinc reviews multi-tie model

Multi-tied network Thinc has confirmed that it is reconsidering its distribution strategy in light of the retail distribution review.

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What price (more) freedoms?

George Osborne will make his last Budget speech of the current parliamentary term this week, and the early media briefings suggest that pensions will again feature heavily in that statement. So what are we able to learn from the weekend’s coverage?


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