Only three firms offering top-tier with-profits funds

Only Legal & General, Norwich Union and Prudential are currently offering top-tier with-profits fund...

Only Legal & General, Norwich Union and Prudential are currently offering top-tier with-profits funds, according to Chartwell Investment Management, with the rest either ambivalent or ailing. While the highlighted groups, termed able by Chartwell, are still applying market value reductions and cutting terminal bonuses, the adviser said these MVRs are at least palatable and the offices also score highly in areas such as asset allocation and financial strength. High-profile life offices in Chartwell's ambivalent bracket include Axa, Clerical Medical, Scottish Equitable, Scottish Widows and ...