Closed funds are a good move

This growing sector can be a wise investment for both companies acquiring closed funds and policyholders alike

We have been active in recent months, having acquired books from Criterion and Family Assurance, and we are in the process of acquiring the £50m Eurolife Assurance Company book. Overall the closed fund sector is large and growing - you only have to look at the once all pervading with-profits policy. The Financial Services Authority (FSA) indicated in September last year that out of 110 with-profit funds, 66 were now closed representing funds under management of £191bn. As this number is on the increase it represents a significant share of the overall with-profits sector. But why are comp...