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UK strikes to move up Europe structured sales table

The UK has overtaken Switzerland, France and Belgium in structured product sales for 2009, according to research by structuredretailproducts.com.

According to SRP research, UK sales for all products striking in 2009 totalled £8.2bn, above Switzerland (£7bn), France (£6bn) and Belgium (£5.9bn) as at July 31.

Germany, Italy and Spain still led the market for sales over the same period with £22.6bn, £20.4bn and £8.8bn respectively, putting the UK in fourth position.

UK sales in the second half of this year have already rea-ched £4bn, according to the research.

Advisers say UK structured product sales volumes have been given a boost by the low interest rate environment.

Chelsea Financial Services head of investment products Matthew Woodbridge says: “This indicates a maturing of the structured product market in the UK. Advisers are much more aware and sales have probably been driven by bancassurers. Interest rates are another factor for those looking for capital growth with protection and the income.

“I think when rates return to levels that people have been used to, structured products will need to offer a much higher rate to tempt people to put their capital at risk.”

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