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View the article online at http://citywire.co.uk/wealth-manager/article/a742279

Schroders sold 4.5 million Just Retirement shares on Budget day

by Dylan Lobo on Mar 21, 2014 at 14:27

'Just Retirement also welcomes changes in legislation which improve flexibility for retired people, the firm told the stockmarket,' it said.

'Annuitisation has not been mandatory for several years, yet 90% of consumers continue to choose wisely to secure a guaranteed income for life by annuitising. The proposed reforms suggest more choice for all retirees, ensuring better value for money for those who continue to annuitise.'

In a note on the life sector issued in the aftermath, Panmure Gordon said Just Retirement offered 'exceptional value' after its price slump.The broker has since cut its price target from 320p to 187p, implying 23.5% upside.

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