Skandia's sales of unit trusts and mutual funds in the UK and offshore fell by a quarter over the ye...
Skandia's sales of unit trusts and mutual funds in the UK and offshore fell by a quarter over the year to £1.715bn from £2.275bn. The company is blaming one of the lowest Isa seasons on record for the whole industry and also reflects turbulent market conditions. For the year ended 31 December 2008, total life assurance sales also fell 19% to £596m across Europe with UK sales falling 28% to £335m. Skandia says the relative decline in sales was largely due to a reduced demand for unit-linked products, especially bonds and single premium pensions. Despite reporting net inflows of £1.7b...
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