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Tep sales up 50% at AAP

Sales at traded endowment policy market-maker Absolute Assigned Policies have increased by 50 per cent in the last 12 months.

Tep providers Policy Portfolio and Beale Dobie recently stopped buying endowments after reviewing the potential of the Tep market.

But AAP says it expects to trade more than £150m of Teps from now up to the end of 2005.

Both Policy Portfolio and Beale Dobie will not trade as Tep market-makers but the two companies will continue to sell policies to their current clients and both firm will continue to administer Tep funds.

AAP marketing director David Arnold says: “The withdrawal of two market-makers from the Tep market does not signal any slowdown in demand for policies. AAP can report growing investor demand for policies, especially from the collective investment funds that we supply.”

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