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Wesleyan launches with profits Isa

The Wesleyan Assurance Society has launched a with profits Isa investing in its with profits fund.

The with profits fund’s asset allocation is broken down into 72 per cent UK and international equities, 14 per cent property, 10 per cent fixed-interest stocks, 4 per cent cash and other related investments. Wesleyan announced a gross investment return on its with profits life and pensions fund of 21.3 per cent in 2005. The Isa is designed as a medium to long term investment.

Wesleyan marketing director Callum Girvan says: “Our in-house investment managers maintain their commitment to equities using Wesleyan’s financial strength. Our with profits Isa will appeal to those who appreciate the potential for above average returns without the volatility of many other funds.”


Kerr joins New Star on US equities

Former M&G global technology fund manager Greg Kerr has joined New Star to run the US equities mandates in its family investment accounts and work in its institutional team. New Star has also appointed Jorry Noeddekaer from BankInvest to work in its Asian team.

Unconditional offer cuts Skandia rating

Standard & Poor’s has cut Skandia’s insurance rating from A to A- following the announcement that Old Mutual’s offer is now termed unconditional.


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