FundsNetwork targets with-profits

FundsNetwork will target existing with-profits bonds as a source of business for its unit-linked offering to be launched this year. The group believes the asset allocation in with-profits funds has changed so dramatically that there may be a case for intermediaries to re-examine holdings with clients even where a change would give rise to a chargeable event. Rob Fisher, FundsNetwork marketing director, said: "There are good with-profits products, but there are many substantially invested in fixed income in order to meet solvency requirements, and not just the closed funds. It is difficu...