R&SA shy on equity portion of closed with-profits funds

Royal & SunAlliance's (R&SA) has lowered the equity portion of its two closed with-profits funds to ...

Royal & SunAlliance's (R&SA) has lowered the equity portion of its two closed with-profits funds to 21% and 10% in each. When asked by the Treasury Select Committee about the asset mix of its funds, Andy Haste, group CEO at R&SA, said the firm started moving away from equities in the late 1990s and closed its two with-profits funds in 2002. The Royal & SunAlliance Life and Pensions with-profits fund, which has a million long-term policies, of which 500,000 are mortgage endowments, now has 21% equity exposure, while the SunAlliance fund has been moved to a 10% equity weighting. The Prude...