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NU suspends access to pension assured fund

Norwich Union is temporarily suspending its Pension Assured Fund. The fund, which holds £1.5bn will not accept new single or regular contribution contracts and the fund will not be available as an investment choice to new members of group schemes.

NU blames the move on falling stockmarket returns which would hit the level of guarantees available to new policyholders.

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Merrill Lynch adds to defined return range

Merrill Lynch Investment Managers has brought out the second version of its defined returns fund.Merrill Lynch defined returns two is a closed-ended split-capital offshore investment that is domiciled in Dublin. It is available for UK investors and offers income or growth for the more cautious client. The fund is designed for those who want to […]

Omam set to offer UK mid-250 fund

Old Mutual Asset Managers is planning to offer a new UK mid-250 fund in February.The fund will combine the skills of small-cap star Ashton Bradbury and newly recruited UK growth manager Richard Moore, who joined Omam from Singer & Friedlander at the end of last month.It will invest in a tight portfolio of around 50 […]

New fixed rate mortgage from Genesis

Genesis Home Loans is launching mortgage fixed until January 2004 at 4.49 per cent up to 75 per cent loan to value and 4.69 per cent up to 95 per cent loan to valueThe redemption penalty is 5 per cent of the loan during the fixed rate period, and the arrangement fee costs £295. The […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]

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