The Endowment Diary

The Endowment Diary

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The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Monday, January 19, 2004

First the good news; the FTSE is on the rise, and has hit an 18 month high.

Now the bad news; the companies that manage endowment schemes have reduced the proportion of their assets held in equities, favouring less risky (and less profitable) bonds and gilts instead.

This means that now that the bonus announcement season is upon us once again, don't get your hopes up; there will be a plethora of bonus cuts again this year.

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