Improved Pru investment suggests with-profits turnaround

At least £1.9bn was added to the value of the Pru with-profits fund in 2003, says the life insurer, benefiting 4.5m policyholders of with-profits pension, endowments and bond policyholders, thanks to a 16.5% return last year. As a result of a 27% investment return between January 1999 and December 2003, it is only Prudential’s with-profits personal pensions will this time see a cut in the annual bonus rate, from 3.5% to 3.25% regular bonus. This is significantly better than some companies have offered their with-profits policyholders in recent months, argues a spokesman for Prudential...