Hammer blow for with-profits savers

The latest bad news for with-profits investing is based on the findings of a new system for predicting fund growth. Based on the expected return from an asset class and the historical performance of a fund manager against that asset, the research will make uncomfortable reading for advisers and their clients who have millions of pounds tied up in lame duck funds. Unsurprisingly, the finger of blame for the poor performance of the funds points to their high weighting in fixed interest. Of 22 with-profit pension portfolios covered by the research, five will return less than the Bank ...