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UK equity funds strike back

UK equity income funds made a comeback last year, with more than nine out of 10 funds outperforming the FTSE All-Share index, according to data from HSBC.

Despite their stronger performance, the average UK equity income fund still produced a negative return of -1.2 per cent for the year while the All-Share index fell by 5.1 per cent.

Ninety-four per cent of UK income funds beat the index over the 12 months to December 29 compared with under 40 per cent over the past three, five and 10 years.

But Simpsons partner Andrew Merricks believes the equity income sector&#39s fortunes are merely cyclical.

He says: “The stocks they have got to choose from, by definition, will outperform at some point. The days when equity income was regarded as the best growth option are definitely over.”


Pension offices shun WP stakes

At least three major pension players will not be offering with-profits under stakeholder because DSS proposals allowing the inclusion are deemed not practical. Scottish Equitable says it believes some of the Depart ment of Social Secu rity&#39s rules, which include an acc ounting ringfence, need to be ratified by the FSA under the Prudential Supervision […]

National Counties Building Society launches fleximortgage

National Counties Building Society has launched a fleximortgage with an initial payment rate of 4.69 per cent for the first six months. The rate is available for purchases or remortgages up to 80 per cent of the property value, on loans between £30,000 and £250,000. No lender processing or valuation fees apply. The building society&#39s […]

A long-term relationship

The mix of business for many IFAs has chan ged considerably over the last few years and this will almost certainly continue to be the case. On the up side, sales of cri tical illness insurance and accident, sickness, unemployment cover have grown to compensate for reductions in state benefits. On the down side, endowment […]

ASA raps Assuresoft over float shares ad

Assuresoft has had its knuckles rapped by the Advertising Standards Authority for misleading advertising on its share incentive scheme. The ASA upheld a complaint that Assuresoft&#39s ads did not make it clear that only the heads of practices would get free shares in the company if it floated. The ad ran with the head line, […]

Naming a reward programme

Six tips to get your reward programme name right

by Debra Corey, group reward director  Choosing a name isn’t easy. Whether it’s for your new puppy, a bundle of joy or your reward programme, a name determines a first impression – and often a lasting memory. When it comes to your reward programme, the name will determine how your employees feel about it even before […]


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