Sipp, pension investors less impressed by recovery talk

Sipp investors and pensions funds are proving to be more reluctant to believe in the market recovery...

Sipp investors and pensions funds are proving to be more reluctant to believe in the market recovery than other investment vehicles. The Office of National Statistics reported that in the second quarter of 2003, net investments by Sipps decreased by £2.9bn, while net investments for long-term insurance funds was £7.2bn lower than over the first quarter. Over the same time period, unit trusts and general insurance funds increased net investments by £3bn and £0.4bn, respectively over first quarter figures. Of funds that were invested, pension fund and unit trusts both sold out of cash and s...