View more on these topics

Pep and unit trusts fall by £150m

Net sales of unit trusts and Peps fell to £149.4m in September, down from £421.4m in August, according to figures from the Association of Unit Trusts and Investment Funds.

The main cause was lack of buying by the institutions, which had net sales of minus £184.2m.

Gross institutional sales of £957m were slightly down on last month, but a record level of repurchases from the UK Smaller Companies sector pushed the overall net position to a negative.

Repurchases in the Japan sectors also far out-weighed sales, to contribute to the low net total.

There was a slight pick up in net Pep sales in September, despite the FTSE 100 and other international markets showing continued volatility.

Net Pep sales were £406m, up from £400m in August and £404m in September last year.

Autif director general Philip Warland says the figures are pleasing considering the market performance.

He says: &#34This latest set of figures is our strongest evidence yet that private investors buying investment funds, especially via Peps, are committed savers, and understand that investment funds offer the key to long term financial security.&#34


Pru could be forced to change Egg name

Prudential could be forced to rename its Egg account because its status as an instant access account is under question only two weeks after its launch.The OFT and Advertising Standards Authority are investigating product literature sent to Egg customers.The consumer watchdogs are looking at a clause in the savings accounts which allows the bank to […]

National Savings joins &#39Cool Britannia&#39 bandwagon in product redesign

National Savings is jumping on the &#39Cool Britannia&#39 bandwagon, hiring advertising agency BMP DDB to modernise the image of its traditional product range.The advertising account, which is worth £10m, is running in parallel with a product redesign being promoted by National Savings itself.

Stroud & Swinton adapts two mortgages due to base rate changes

Stroud & Swindon Building Society has anticipated customer demand following the cut in base rates and launched two variations on its standard flexible mortgage.The Fees Free Capped and Flexible Remortgage guarantees the interest rate payable will not exceed 7.7 per cent until January 1 2002. Cash bonuses are available, solicitors costs are paid by the […]

Scot Eq targets over 35s for new Edinburgh office

Scottish Equitable is to target people aged over 35 to fill 150 customer services positions at its Edinburgh headquarters.By specifically targeting this age group the company hopes to recruit experienced, mature and appropriately qualified people from Edinburgh&#39s sizeable, skilled work-force.Scottish Equitable public relations manager Scott White says: &#34People are deterred from applying for positions they […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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 thought leadership.

    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