“Our Savings business offers customers choice from an increasingly comprehensive product mix, covering a wide variety of asset allocation strategies across medium and long term investment horizons.”
Mark Gregory Group Executive Director (Savings)
Our Savings Division includes Wealth Management and With-profits. The Savings division has £45.8bn of customer assets under administration, including £19.4bn of assets managed on behalf of With-profits policyholders. Savings products are distributed primarily through bank and building society partners, IFA’s and direct sales.
Our Products
Assets under administration (excludes institutional business and Nationwide Life)
(2007: £47.6bn)Unit Trusts
A relatively simple form of collective investment, which enable customers to invest in a wide variety of different securities and indices.
Individual Savings Accounts
Enable customers to invest in cash or securities, up to a defined annual limit on a tax efficient basis.
Investment Bonds
Combine life assurance features and the facility for the customer to invest in a variety of investment funds.
Pensions
Pensions products enable individuals to save for retirement in a tax efficient way, either through a personal pension, or as part of an employer’s scheme.
With-profits
With-profits pool customers’ investments. Policies share the characteristic that investors receive bonuses as a result of direct participation in surplus profits.
Our Strengths
With-profits bonuses paid
(2007: £665m)- Wide product range to suit different maturity and asset allocation preferences.
- Broad distribution, with direct and intermediated sales through IFAs and bank and building society partners.
- Legal & General Investment Management (LGIM) synergy gives access to expert fund management.
- Adaptable approach to technology evidenced by partnership with Cofunds platform.
- Financial strength and asset allocation skills within With-profits enables us to balance expectations and risk management for customers and shareholders.