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Widows reopens property funds to new investments

Scottish Widows is reopening its unit-linked life and pension property funds to new investments from the end of April.

The firm suspended investment into the funds when many retail investors started to allocate 100 per cent of investments to property, leading to unprecedented cashflow into property funds. It hoped the suspension would prevent the performance of the funds being compromised by a high cash weighting or by hasty property purchases.

Since the suspension, Scottish Widows Investment Partnership has reduced the cash levels in both funds to about 13 per cent with the purchase of commercial properties worth over £300m.

Widows expects demand for the funds to be high and has put a 25 per cent restriction on new business into the funds.


Bagger demands Standard windfalls for maturing plans

Members of Standard Life with with-profits policies which are due to mature before the demutualisation of the company are arguing that they should still get windfall payouts. Former Standard Life carpetbagger David Stone-banks says one member who has been a policyholder for 24 years and whose policy is due to mature soon has put his […]

Slick Standard Lifers hauled over the carpet

An illuminating moment at Standard Life&#39s annual general meeting last week came as a disgruntled punter, when asked his name while calling for chief executive Sandy Crombie&#39s head on a plate, responded: “You might remember me, you wrote back to me last year reassuring me about the company&#39s mutual status.” Flashes of policyholder anger such […]

Coventry caps it up

COVENTRY BUILDING SOCIETY Flexx Capped Mortgage Type: Flexible capped-rate tracker mortgage Tracker rate: 0.85% above Bank of England base rate Payable rate: 4.85% Capped term: Until December 31, 2009 Capped rate: 5.99% Minimum loan: £1 Maximum loan: Up to 95% of valuation subject to a maximum of £500,000 Income multiples: Dependent on loan to valuation […]

Exchange adds quotes to cover special risks

The Exchange is adding a special risks section to portal ExWeb to offer intermediaries protection business quotes. The special risks centre will provide intermediaries with guidance on what constitutes a special risk and help them get the best rate for clients through a special underwriting process. The Exchange&#39s research shows that 62 per cent of […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


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