View more on these topics

NU&#39s guarantee is not unfair

Regarding the letter headlined, Norwich Union&#39s with-profits guarantee is unfair to other investors (Money Marketing, February 19), it is not true to say that “any guarantee taken by an investor would be to the detriment of those investors remaining in the with-profits fund”.

The cost of the guarantee will be met out of the free assets of the fund and will therefore not affect any other investor in the fund.

Using a tiny proportion of the free assets to provide a guarantee will attract new investors to the fund, which is ultimately to the benefit of all investors in the fund.

The new five-year money-back guarantee demonstrates Norwich Union&#39s commitment to with-profits and further improves our portfolio bond product.

It has been introduced in response to demand from advisers and customers and to help rebuild confidence in with-profits investment.

Iain Buckle

Head of actuarial business support,

Norwich Union Life

Recommended

Coventry makes it better

COVENTRY BUILDING SOCIETY Altogether Better Offset Mortgage Type: Discounted-rate offset mortgage Discounted term: Until March 31, 2009 Discount: 1.44% Payable rate: 4.6% Minimum loan: £1 Maximum loan: Up to 95% of valuation subject to a maximum of £500,000 Income multiples: Based on loan to valuation and salary band Redemption fee: None Arrangement fee: £199 Flexible […]

Clerical Medical – Futureproof

Type: Cafeteria-style group pension plan combining group stakeholder, group personal pension, group money purchase and group additional voluntary contributions Minimum group size: 10Minimum-maximum ages:16-75 Minimum premium: £20 for stakeholder, otherwise £20 per member a month, £240 per member a year, £500 lump sum, £1,000 pension transfers Fund links: Clerical Medical Funds &#45 non-equity managed, cautious […]

Jupiter funds shake-up could see performance-related fees

Jupiter is set to shake up the way groups develop funds by polling its key IFA partners about recent regulatory chan-ges in a move likely to prompt the group to introduce performance-related fees. In a radical departure from the way firms traditionally test funds, Jupiter is asking its distribution partners to comment on a range […]

Software firms link up to offer planning tool

Software company Distribution Technology has signed a deal with Quay Software to supply up to 3,000 intermediaries with its latest financial planning tool. Distribution&#39s financial planning tool Dynamic Planner, developed with Bloomsbury Financial Planning director Campbell Edgar, will be offered to Quay&#39s clients from the start of March. The tool incorporates financial planning and investment […]

What can drive the India story forward?

By Kunal Desai, head of Indian equities, Neptune Since the election of Narendra Modi as prime minister in May 2014, Indian equities have gone on to outperform both developed and emerging markets. A busy period of governmental and economic reforms, a lower oil price and falling political risk have been the primary drivers over this […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com