Chartwell questions with-profits future of Abbey, Axa and Royal London funds

Ben Willis, business development manager at Chartwell Investment Management suggest financial intermediaries are now at a crossroads concerning certain with-profits investments, as few IFAs at the firm can now see the likes of Abbey’s closed with-profits funds from falling any further in value. Abbey started the 'with-profits' ball rolling this morning by revealing it would not be offering any annual bonuses this year to Abbey National Life, Scottish Mutual and Scottish Provident policyholders of with-profits investments, except where guarantees are held. This is the second year in a...