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Safeway promises cash Cat ISA for April

Safeway has pledged to launch a Cat Standard Cash mini-ISA in April in partnership with Abbey National.


Safeway customer development director Roger Partington says: &#34The popularity of the Safeway Direct Savings Account during 1998 has seen the Safeway/Abbey National partnership go from strength to strength.


&#34Our high rate, &#39no frills&#39 approach has proved to be a winning formula and we have consistently met or exceeded the service standards we set during 1998.&#34

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National Savings takes £1.06bn in November

Sales of National Savings products totalled £1.06bn in November 1998. This brings the total invested in National Savings funds to £64.1bn, up £8.23bn on the beginning of the financial year. The most popular products held by the agency&#39s 30 million customers are premium bonds, followed by income bonds and index-linked savings certificates.

Friends Ivory & Sime buys L&M asset management divisions

Friends Ivory & Sime, a subsidiary of Friends&#39 Provident life office is buying the two asset management subsidiaries of the London and Manchester Group in a deal worth £40m.An initial £35m will be paid up front in the form of shares and a loan. The remaining £5m is payable on the achievement of revenue targets.Friends […]

Virgin issues &#39Branson&#39 booklet to promote ISAs

Virgin Direct is launching a £5m educational campaign to promote greater awareness of tax free savings products.The fund manager says it launching the campaign in response to recent surveys that found only one in five people know what an ISA is and over half the population admitted to finding Peps and Tessas confusing.The campaign will […]

Axa Sun Life new business up 4 per cent in 1998

AXA Sun Life saw a 4 per cent rise in new business in 1998 totalling £458.9 m despite an 8 per cent fall in sales of new regular premiums.AXA Sun Life chief executive Les Owen blames the drop in regular premiums on the merger between Sun Life and AXA Equity & Law.The total figure was […]

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Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders

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