Time to play it safe?

Variable Annuities

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The role of complex financial products in precipitating the recent crisis has prompted loud calls for financial services to return to basics. Although focused primarily on banking and the toxic effects of opaque securitisation and subprime mortgages, the backlash has spilled over into the life and pension sector too, where some argue innovation should be restricted in favour of more traditional products. But that is not how the market sees it. Evidence suggests that, far from being scared off