Value of Liverpool Victoria bonds fall - papers 31st Jan

LIVERPOOL VICTORIA is likely to have angered financial advisers with its with-profits bonus announcement yesterday, as payouts are now being cut by 18% on some of the industry's most popular bonds, says the Times. The UK's largest friendly society has halved the annual bonus to just 2.25%, to compensate for the huge 25% losses on the FTSE All-Share index over the last 12 months. However, IFAs are unlikely to be happy about the decision, as Liverpool Victoria's bonds have been some of the biggest sellers this year, given the bonus cuts happening elsewhere. ABBEY National has a...