Investors shrug off stocks slump

IRISH investors continue to plough millions into with profits equity bonds despite massive falls in stock value, figures released yesterday by Standard Life reveal.

The Standard Life With Profits Bond reported sales in excess of 160m in 2002, bringing the total invested in bond to 326.7m since its launch in March, 2001.

“While this figure is slightly down on last year, it still shows strong consumer confidence in with profits as a vehicle for medium- to long-term investing,” Standard Life marketing manager Nigel Dunne said. Mr Dunne disclosed that investment in the bond slowed in the second half of 2002 and this has been maintained in the beginning of 2003, but he revealed that in 2002 investment in the product was only down by close to 5%.