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Sarasin beats Asian flu with defensive strategy

Sarasin Investment Management says that its highly defensive asset allocation has protected it from stock market turmoil this year. The have biased fixed interest investment towards long-dated bonds in the Euro currency bloc and equity investment towards the European utility and defence sectors.


Barclays Capital is suggesting that the dramatic growth seen in the corporate bond market this year will hit the buffers in 1999. Corporate borrowing in the UK will be damaged by the widening spread between corporate bonds and gilts and sluggish economic growth.

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L&G posts dramatic rise in business in Q3

Legal & General yesterday announced a dramatic 31 per cent rise in new business sales to £340m over the last nine months. The news produced a 41p rise in the share price to 672p.New individual pension sales rose 40.5 per cent to £106.5m and sales of life products reached £35.8m, a 22 per cent rise […]

PIA fines 31 more firms

The Personal Investment Authority (PIA) has today taken disciplinary action against 31 firms issuing fines totalling £108,000 in relation to pensions review failures by small IFAs.The firms have been disciplined for failing to meet the December 1997 deadline to complete 90 per cent of their most urgent cases.The companies fined are Abacus Insurance Consultants, ADA […]

Norwich Union to buy London & Edinburgh for £315m

Norwich Union is to buy London & Edinburgh for £315m in a bid to become the UK&#39s biggest general insurer in the intermediary market.The takeover will create the third biggest general insurer in the IFA market. But Norwich Union aims to become the top player within five years.The London & Edinburgh name is expected to […]

Halifax lending division ditches &#39X&#39

Halifax has taken another significant step to distance itself from its building society roots with the announcement that its lending division is ditching the Halifax &#39X&#39 logo. But the high street bank will retain the &#39X&#39 identity.The mortgage arm will now be known as HMSL – Halifax Mortgage Services Limited in full – which Halifax […]

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