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Protection confidence remains steady, says L&G

The confidence levels of advisers dealing in protection have dipped by just 1 per cent in Q3 2008, according to Legal & General’s Advisor Confidence Index.

In its quarterly index the life office has revealed the number of advisers who expect protection sales to improve over the coming quarter dipped to 39 per cent, down form 40 per cent in Q2 2008.

The same study found that 38 per cent of advisers, polled from L&G’s mortgage network, expect sales to remain flat. A further 24 per cent expect sales to drop, up from Q2 2008, which recorded 21 per cent.

L&G director of housing Stephen Smith says: “Mortgage advisers are clearly getting more pessimistic as the year goes on. However, there are some positives to be found in the protection market. Advisers are clearly seeing that thee is a consumer need for protection and that there are income opportunities for them as intermediaries.”

Adviser confidence in house purchase dropped with just 15 per cent of advisers predicting they will be writing more than 40 per cent house purchase business over the next quarter. A further 68 per cent expect house purchase to represent between 0 to 20 per cent of their mortgage sales over the next three months.


The long-distance runner

First State’s defensive style of running its Asia Pacific Leaders makes it a contender for being a fund for all seasonsIwould not care to estimate how many fund managers I have met over the years but the number clearly runs into hundreds. During that time, many have impressed me, many have left me ambivalent and there have been those that I considered sub-standard. I always think a true test is whether or not I have the conviction to invest my own money in a fund.


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