Customer Service and Operations

Efficiency

The year end figure was £19.06 and we exceeded our real terms cost per unit milestone of £23.10. This is an improvement of 10.6% over the previous year and 37.8 % since establishment as a Trading Fund in 1998, (cost per unit components having been adjusted to take account of the change in the basis of calculation). The corresponding cash terms figure is £24.48 against a milestone of £29.67.