AAP defends future of TEPs

Absolute Assigned Policies (AAP) has insisted there is a boom in traded endowment policies (TEP) despite question marks over the industry's future. The UK market maker claims the number of purchases has grown by over 50% in the last 12 months on the back of "substantial and growing" demand. And it predicts that more than £150m of TEPs will be traded over the coming year despite doubts being raised about the market's long-term prospects. The increasing demand for TEPs over the past few years even led to the launch of funds of TEPs, such as the Shepherds Select TEP funds, which has made t...