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Pru profits down by 27 per cent

The Prudential has announced a 27 per cent drop in group wide operating profit for 2003 to £794m from £1.1bn in 2002 at the same time as some UK with-profits policyholders see a drop in their regular bonuses. While annual bonus rates on the Prudence bond and with-profits endowments are unchanged, there has been a cut in personal pensions bonuses to 3.25 per cent from 3.5 per cent. The UK life fund free asset ratio rose to 10.5 per cent at the end of 2003 from 8.4 per cent at the end of 2002.


L&G bids to boost long-term Euro fixed-rate loans

Legal & General supporting the development of long-term fixed-rate mortgage funding across Europe. Financial economist Andrew Clare says the implementation of such a system in the UK, being considered by Professor David Miles for the Treasury, makes sense but he is more concerned about Europe&#39s mortgage market, which he says needs major attention. He is […]

Christopher Rodrigues

Interviewing Christopher Rodrigues in the week that Bradford & Bingley&#39s preliminary results come out was always going to be a hectic affair but the man seems remarkably calm, despite having been in back-to-back meetings all day. The relaxed air is also impressive given that the results are something of a mixed bag, with good performances […]

Electra tops up

Downing Corporate Finance is raising up to £1,98m to top up the Electra kingsway venture capital trust (VCT). Electra kingsway was established in September 2001 and is managed by Electra Partners. It invests in a portfolio of unquoted and developing companies that are listed on the alternative investment market (AIM). The top-up investment will allow […]

Investment funds sales double

New retail sales of investment funds fell in January but were still double those at the same time last year, according to the IMA. Its monthly statistics show that sales slid to £505m last month from £844m in December 2003 although this was still far in excess of January 2003, when sales were just £249m. […]

State of the markets: UK equity income

Artemis Income Fund manager Nick Shenton discusses the state of the UK equity income market with journalist Alexis Xydias. With the first three months of 2015 showing strong returns for both the Artemis Income Fund and UK markets generally, Nick Shenton discusses the fund’s top contributors – including overseas holdings Novartis and Bayer – and […]


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