With Profits Zombie Funds - £190 billion of your money trapped!

11 million people in the UK have a total of £140 billion effectively stuck in low performing Zombie With Profits Investment funds. Zombie funds are those which no longer take on new business but continue to hold onto your cash with little or no growth and little or no advice on whether you should move it or not. All they usually tell you, if you ask, is how big a penalty you will have to pay to get out.

Surprisingly, the companies managing these funds are not obscure unknown businesses but major well known household names. Here is a list of companies and With Profits funds under management:-

Pearl Group - including London Life, NPI & Pearl - £27 billion

Resolution Group - including Abbey National Life, Alba, Britannic, Royal & Sun Alliance, Royal Life, Scottish Mutual, Scottish Provident - £61 billion

Aegon/Guardian, Scottish Equitable - £13.8 billion

Royal London Group - United Friendly & Scottish Life - £14 billion

HBos - formerly Clerical Medical annuity fund - £18.5 billion

Equitable Life £9.9 billion

There are strong suspicions that the Insurance companies that run these funds are putting the interest of their shareholders ahead of the investors and if you are one of them you should get some specialist advice as soon as you can.