Estate of grace



The UK's with-profits industry was once the powerhouse of the country's long-term savings sector. But around the turn of the decade a deterioration in market conditions, combined with some poor risk management decisions saw investment returns, and consumer confidence in the product plummet. Now faced with a shrunken share of new business, when compared with unit-linked products, the funds are seeking to use cutting-edge capital management techniques to rejuvenate the sector - but the jury re