From: Terry Harper 
Newsgroups: uk.finance
Subject: Re: Mortgage - pay it off early?
Date: Tue, 15 Feb 2005 17:55:00 +0000 (UTC)

On Tue, 15 Feb 2005 00:46:58 +0000, john boyle
 wrote:


>Generally MVAs dont apply to endowments, usually just to 'with profit 
>bonds'. The same effect is achieved though by reducing the 'terminal 
>bonus' which is arbitrary anyway and cant be included in current 
>'worth'.
>
>You seemd to be confusing 'with profit' funds and 'managed' funds.

I think that if you study the T&Cs of any unit fund, there is a
proviso that payment can be delayed, or the bid price be lowered, if
there is a sudden high demand for redemptions.

It's similar to an MVA and I think I've seen it described as such
somewhere.
-- 
Terry Harper
http://www.terry.harper.btinternet.co.uk